PhonePe inks pact with SIDBI

New Delhi: Fintech major PhonePe on Wednesday signed an MoU with SIDBI to offer an end-to-end digital solution through the Udyam Assist Platform (UAP) to empower micro enterprises and merchants.

The collaboration aims to formalise Informal Micro Enterprises (IMEs) across India by providing them with digital-first Udyam Assist registration, which enables them to access benefits including government schemes, credit facilities, and the broader digital payments ecosystem. The MoU was signed in the presence of Union Minister for Micro, Small and Medium Enterprises, Jitan Ram Manjhi.