Which of the following statements about the lsquo Udyami Mitra rsquo portal is are correct 1 The mai...........

Economic Affairs Small Scale Industries

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Which of the following statements about the ‘Udyami Mitra’ portal is/are correct?

1. The main aim of the portal is to improve accessibility of credit for MSMEs

2. The portal has been launched by SIDBI

3. The portal allows for online application of loans without the need for visiting physical branches

Select the correct answer using code given below

1 and 2 only

2 and 3 only

1 and 3 only

All of the above

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Explanation:

.The Small Industries Development Bank of India (SIDBI) has launched ‘Udyami Mitra’ portal (www.udyamimitra.in) to improve accessibility of Credit for the MSMEs.
Under the portal entrepreneurs can apply for loan without physically visiting bank branches. It also has facility for uploading all necessary documents.
Through the portal the MSMEs can seek handholding support for getting finance. They can also select and apply for preferred banks.
Through the portal, the MSMEs can select from over 1 lakh bank branches, track their application status and avail multiple loan benefits.
According to industry body FOSMI, the Reserve Bank of India (RBI) has also advised the banks to sensitize their bank branches about adopting ‘Udyami Portal’ for centralized processing and surveillance of loan application from MSMEs.