- Bank of Baroda's bob Digi Udyam platform
accelerates credit access for Micro and Small Enterprises across sectors
- Digital-first approach enables faster
approvals and seamless loan disbursals
In a
significant stride towards financial inclusion and digital lending, Bank of
Baroda's innovative bob Digi Udyam
platform is transforming the way micro and small enterprises (MSEs) in
India get access to working capital. bob Digi Udyam is a digital, collateral‑free, cash-flow based lending platform that
provides quick and easy access to working capital loans above ₹10 lakh to ₹50
lakh to both new and existing MSE customers of Bank of Baroda. The scheme
leverages the digital footprint of enterprises to generate an automated risk‑based scorecard that enables faster credit assessment,
providing provisional sanction within minutes and sharply reducing the turnaround
time for loan processing.
bob
Digi Udyam offers Cash Credit and Overdraft facilities for a tenure of up to 12
months, with loans covered under CGTMSE, removing the need for collateral and
easing access to formal finance for MSEs.
Two
compelling success stories from Indore showcase the transformative impact of
this digital-first lending solution for small businesses.
KRS Enterprises: From Fund Constraints to Business Scale-Up
KRS Enterprises faced a challenge common among
many MSEs: securing orders from customers on favourable credit payment terms, a
requirement that demanded substantial working capital liquidity and limited the
company’s ability to scale its business volumes.
When the company turned to Bank of Baroda's bob
Digi Udyam platform, the experience proved transformative. The digital-first
approach enabled a remarkably smooth and fast process.
The company was sanctioned a loan of ₹50 lakh,
providing the company with the liquidity it urgently needed. KRS Enterprises strategically
deployed the funds towards business credit and inventory, enabling it to pursue
additional business opportunities with corporate clients.
Ms.
Shweta Singh, Proprietor, KRS Enterprises said, “bob digi Udyam helped us to scale our
business. It also enhanced our operational flexibility to capitalise on
emerging business opportunities. The bank officers were also very professional and transparent, making the entire process
hassle-free for us.”
JMK
Enterprises: Streamlined Operations and Improved Liquidity
JMK
Enterprises struggled with three critical challenges: shortage of working
capital for day-to-day operations, difficulty in managing operational cash
flow, and delay in accessing timely credit through traditional banking
processes.
bob Digi Udyam’s quick and seamless digital
application, faster processing and approval, simplified documentation,
transparent communication and ease of use proved extremely beneficial for JMK
Enterprises.
The
company received a sanction of ₹50 lakh overdraft limit under the bob Digi
Udyam scheme, which the company is utilising for working capital requirements,
managing receivables and cash flow efficiently and the overall smooth running
of daily business operations.
To
add to this, Bank of Baroda’s Siyaganj Branch in Indore, provided continuous
support, guiding the customer at every stage and making the entire process very
smooth and efficient.
Ashish
Chaursiya, Partner, JMK Enterprises said, “Due to the bob Digi Udyam facility, our
working capital cycle has improved significantly, liquidity has improved and daily
operations have become smoother. We are better positioned to take new orders
and leverage opportunities. Overall business efficiency has increased. bob Digi
Udyam has had a strong and positive impact on our financial operations and
business growth.”
With
bob Digi Udyam, Bank of Baroda is not just providing credit, but is a partner
to small businesses across India, helping them to scale and contribute to the
nation's economic growth.