April 19, 2025 07:59 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Andhra student dies in accident in US' Texas days before her graduation | Karnataka students allegedly forced to remove sacred threads at CET exam centre, sparks outrage | Bengal BJP leader Dilip Ghosh marries party colleague Rinku Majumdar in an intimate ceremony today | Narendra Modi, Elon Musk discuss Indo-US tech collaboration | 'Focus on protecting rights of own minorities': India slams Bangladesh's remark on Murshidabad riots | Gangster Harpreet Singh, alias Happy Passia, responsible for Punjab terror attacks arrested in US | No change in 'waqf by user' for now till next hearing: Supreme Court to Centre | Supreme Court rules Bengal govt teachers 'not identified as tainted' in SSC scam can continue till fresh appointments | 'Yogi sabse bada bhogi hai': Mamata Banerjee slams Uttar Pradesh CM over Murshidabad riots remark | Uttar Pradesh: 11-year-old speech and hearing impaired girl brutally raped, accused nabbed

Aditya Birla's MSME lending platform Udyog Plus garners 8 lakh users in 9 months; AUM at Rs 250 cr

| @indiablooms | Jun 28, 2024, at 08:53 pm

Kolkata: Aditya Birla Finance Limited’s (ABFL) B2B lending platform Udyog Plus has attracted over 8 lakh users in the MSME sector within nine months of its launch, the company said in a press release.

Udyog Plus has facilitated loan disbursements exceeding Rs 500 crore, with the Aditya Birla Group ecosystem contributing about two-thirds of this amount.

The platform manages an AUM of around Rs 250 crore, including unsecured business loans, merchant loans, supply chain finance, and working capital solutions.

The company is looking to capitalise on this growth trend, according to the release.

Many customers use Udyog Plus to access insurance solutions along with loans. The platform has partnered with major ecosystems such as e-commerce and digital platforms, business management platforms, and Digital Public Infrastructure like OCEN and ONDC, the company said.

These partnerships enhance the platform’s offerings and reach.

Udyog Plus also provides value-added services such as business networking, digital commerce, and applications for accounting and payroll, helping MSMEs streamline their operations.

The platform, including its mobile app, offers a complete digital journey from underwriting to collections, ensuring a seamless financing experience.

As Udyog Plus continues to expand, ABFL remains committed to delivering sustainable returns and enhancing its capacity to serve MSMEs.

This growth aligns with the increasing credit disbursement trend to micro, small, and medium-sized enterprises.

Recently, it has been observed that the MSME sector in India is experiencing a credit boom, with credit to micro and small enterprises growing by 18.6% to Rs 19.64 lakh crore in April 2024 compared to the previous year. Similarly, credit to medium-sized organizations also jumped by 16.5% during the same period.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Videos
FM Nirmala Sitharaman presents Budget 2025 Feb 01, 2025, at 03:45 pm
Nirmala Sitharaman on Budget 2024 Jul 23, 2024, at 09:30 pm
PM Modi on Budget 2024 Jul 23, 2024, at 09:30 pm