Immediate loan of 50 thousand rupees will be provided, just this process has to be done.

New Delhi. Small, medium and small scale industries ie MSMEs are the backbone of India. Their share is about 30 percent of the total GDP, 40 percent in the workforce and about 40 percent in exports. Due to the Karona epidemic, they have been greatly affected. This is to say that Rohit Davar, the Chief Sales Officer of SOLV (SOLV).
In a conversation with News18, Davar told that there are huge opportunities in the supply chain of MSME in the matter of innovation. Therefore, an eco-system can benefit MSME in which the entire supply chain from the manufacturer to the retail shopkeeper is at their fingertips. Dover states that this is the concept behind the solvent. Here are the key parts of the conversation with him.
Also read: Doing 5 things in March will give you this benefit, know everything

Question: What is the biggest current for MSME?Answer : Today, the B2B market place is emerging as a possible solution to the financial shortage or gap of about $ 300 billion in the MSME sector. Despite the rapid advancement of technology in various sectors of the economy, this sector has not been able to exploit technology for growth. More than 80 percent of the MSME sector’s work is in unorganized form, in which the chances of finding a business point of view in digital terms are absolutely zero. Due to this, there is a huge gap in the financing of MSMEs in India, only 4 percent are getting loans through formal financial channels.

solv

Rohit Davar, Chief Sales Officer, Solv.

Question: How is it easy to get a BNPL loan on Solvay and how many loans can a businessman apply for?
Answer : Solve’s BNPL solution is the fastest and convenient method of finance available in the B2B sector, especially for small and first-time retail shoppers. The registration process on SOLV’s app is fast and smooth. On this platform, a shopkeeper completes the KYC verification process within 2 minutes, after which he can initiate transactions in instant food and FMCG, consumer electronics, apparel etc. categories. This facility works like a kind of virtual credit card, in which a loan of Rs 20,000 to Rs 5,00,000 is immediately approved for an MSME. They can use this loan limit for any purchase starting from Rs 3,000 worth of goods on solvent.
Also read: If you do not do this work in the new financial year, there will be double tax, so keep this caution

Question: How are B2B marketplaces like Solve making finance of this sector easier?
Answer : We believe that digitizing the traditional supply chain not only paves the way for new markets to grow across commercial transactions among small businesses, but would also prove to be a turning point to bring this segment into the formal economy. is. In this way economy helps in getting growth and working capital. This was primarily due to a lack of data and sufficient information to make a lending decision about India’s strong MSME sector with a population of more than 6 million. It is also interesting to note that block chain and AI / ML have strengthened the digital trust ecosystem and increased automation in many important tasks. We have seen the strongest example of the use of AI / ML in preparing the solvent SCORE. It helps financial institutions to take decisions to give loans to small businesses. There are many more notable uses such as pairing MSMEs with the right financial services provider and strengthening the recommendation system of the commerce platform.
Also read: If you invest in this market of the world, you will get big profit, know everything

Question: The epidemic has put a lot of pressure on cash flow and current business investment in this sector. How are B2B industries like BNPL helping them get out of this crisis?
Answer : Solve’s B2B platform facilitated by the invoice-linked short-term credit solution ‘Buy-Now-Pay-Letter’ (BNPL) program has given MSME an immediate major respite during the Kovid-19 crisis, at a time when many smaller The shopkeepers were struggling with cash and cash to meet their financial needs. With the flexibility of the BNPL now available to them, small businesses can now meet their immediate needs without experiencing any serious financial pressure. This is because they get more time to pay.
ALSO READ: IPOs are making investors rich this year, these IPOs gave 40% big profit with listing

Question: Has Solve tied up with any financial services provider to provide BNPL loan facility to MSME customers?
Answer: With the BNPL scheme of Solve, small businesses can fulfill their daily working needs in a convenient and efficient manner. New-age digital lenders are the leaders of this concept. SOLV has approached three new-age lenders – Indifi, ePayLater and Davinta – for this initiative.
Also read: Easy way to transfer money in NPS account, know the details of new facility

Question: What is the solution thinking for a BNPL product?
Answer : Our newest offering in the B2B segment, BNPL, has been welcomed by over 35,000 MSME buyers and sellers. This product provides them both convenience and financial flexibility, so that they can progress even in this challenging time. According to the trend, it seems that by the end of 2021, one in every three MSMEs will use this product. It is expected that in the year 2021, BNPL will contribute more than Rs 100 crore in the solvent business.

Leave a Reply

Your email address will not be published. Required fields are marked *