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DBS Bank India Partners with Haqdarshak to Help Indian MSME to Recover from COVID-19 Pandemic

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DBS Bank India partners with Haqdarshak to aid MSME recoveryOn December 11, 2020 DBS Bank India Ltd. (DBIL) partnered with Haqdarshak Empowerment Solutions Private Limited to help Indian MSMEs(Micro, Small and Medium Enterprises) to recover from COVID-19 pandemic.

This aid will happen through the newly launched Haqdarshak MSME platform. The platform helps India’s enterprises to access MSME-focused government welfare schemes, covering registrations, documentation and applications for financing across India.

Purpose– To provide application support services to India’s business owners to enable them to avail the right schemes.

About the Platform

It provides information about the government schemes like:

  • Loan schemes of Small Industries Development Bank of India(SIDBI) for MSMEs, Emergency Credit Line Guarantee Scheme
  • Prime Minister(PM) Street vendor’s AtmaNirbhar Nidhi Yojana( (PM SVANidhi), etc.,

Key Info

Haqdarshak, with this initiative aims to reach 1 lakh MSMEs and also support 1 million jobs per year.

Background

i.DBS Foundation constituted a Business Transformation and Improvement (BTI) Grant of Rs 2.7 million.

ii.This was to provide additional funding to the past grant awardees, so that they can  protect jobs and enable them to search for new streams of income.

iii.Haqdarshak received DBS Foundation’s annual Social Enterprise (SE) Grant for their citizen-focused platform in 2018.

iv.It received the BTI grant, which enabled it to design its platform.

Additional Info

The 1st platform of Haqdarshak was designed to ensure that citizens can access and apply for government and private welfare schemes.

Recent Related News:

On July 22, 2020, The Asian Development Bank (ADB) and the Green Climate Fund (GCF) agreed to partner toward the “Green Recovery”. This is to help hands for the people who are facing the harsh economic impact due to COVID-19 pandemic.

About DBS Bank India Ltd. (DBIL):

  • It is a wholly owned subsidiary of DBS Bank Ltd, Singapore.
  • It received a banking license to operate as a banking company under Section 22 (1) of the Banking Regulation(B R) Act, 1949 .

Incorporated under–  Companies Act, 2013
Headquarters– Mumbai, Maharashtra
Managing Director(MD) and Chief Executive Officer(CEO)– Surojit Shome

About Haqdarshak Empowerment Solutions Private Limited

CEO and Co-founder– Aniket Doegar