A new digital-first banking platform has been launched to cater specifically to micro, small, and medium enterprises (MSMEs), aiming to ease access to financial services for India’s growing base of small business owners.
The platform allows MSMEs to open business accounts, manage collections and payments, and track loans — all without visiting a bank branch. It also integrates features such as role-based access for employees, GST and tax payment tools, and instant transaction tracking.
The move is part of a broader trend among financial institutions to digitise banking services for the country’s estimated 60 million MSMEs, many of whom continue to face hurdles in accessing formal credit and managing day-to-day operations.
A senior official involved with the rollout said the platform was designed after months of on-ground research. “Small businesses need more than just a current account — they want tools that reduce manual work, offer transparency, and are accessible anytime,” the official said.
Over one lakh MSMEs have already been onboarded, and the bank behind the platform plans to double its revenue from the MSME segment over the next three years.
With increasing competition in the digital banking space, such initiatives are expected to play a key role in boosting financial inclusion and helping small businesses formalise their operations. However, adoption in rural and Tier 2-3 towns will be critical to its long-term success.
