Under the circumstances, the potential borrowers continue to face uncertainty over quantum and timelines after making a loan application. To ease the process, bridge information gaps, enable monitoring of processing time and reducing transaction costs, RBI is in active discussions with GOI, IBA, SIDBI and e-governance experts to set up a universal “Udyami” Portal for access by small entrepreneur. 10.
And this is of course welcome, especially for emerging countries, where we also need to catch up with economic development, address social tensions and, more importantly, build lasting and useful institutions at once for the whole of society.