Revolutionizing MSME Finance: 121 Finance and GeM Sahay 2.0

121 Finance partners with GeM, Perfios, and Tata Consultancy Services to launch GeM Sahay 2.0, enhancing financial accessibility for MSMEs. This initiative, backed by the OCEN framework, allows 121 Finance to provide specialized loan products and digital-first financial solutions to solve B2B trade credit challenges.

New Delhi [India], January 27: 121 Finance, registered under RBI's NBFC-Factor, has teamed up with the Government-e-Marketplace (GeM), a Commerce Ministry initiative, collaborating with Perfios and Tata Consultancy Services to unveil an enhanced version of GeM Sahay.

Sagar Parikh from OCEN highlighted the crucial role played by 121 Finance as an early lender during GeM Sahay's pilot phase. Their innovative approach to digital lending offers real-time solutions, setting a benchmark in the sector. Such collaborations aim to improve accessibility and efficiency for MSMEs.

The new version, GeM Sahay 2.0, aims to boost financial inclusion while overcoming MSMEs' credit access challenges. Initiatives like this, alongside the OCEN framework, exemplify how digital platforms can transform the lending landscape in India.

(With inputs from agencies.)