SIDBI launches app based lending platform ‘Digital Prayaas’ for small entrepreneurs

The Small Industries Development Bank of India (SIDBI) has launched an app-based digital-lending platform named ‘Digital Prayaas’, to sanction loans to entrepreneurs from low-income groups.
The loan will be sanctioned by the end of the day.
Apart from this, SIDBI has tied up with BigBasket to cater to the needs of aspiring youth in urban areas. SIDBI will on board BigBasket’s delivery partners across the country and provide loans at an affordable interest rate for purchase of environment friendly e-Bikes and e-Vans.