Reviving MSME: How AAs and Cash Flow Lending can unlock the potential

Sahamati (an umbrella collective non-profit) is overseeing implementation and evangelisation of account aggregation. ReBIT (the IT arm of the RBI) and iSpirt (the volunteer-led organisation behind much of the success of IndiaStack) have been working hard since 2016 to standardise the APIs and security framework required to execute these multi-party data exchanges.

Loan service providers, a new set of intermediaries designed to increase access to credit to MSMEs (as per the recommendations of the UK Sinha committee) have now become a reality. To stitch it all together, the recently announced Open Credit Enablement Network (OCEN) will render the perfect marketplace for MSMEs by connecting all these parts and bringing the entire ecosystem across lenders, borrowers, LSPs, and private and public innovators together.