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SIDBI, PMBI sign MoU for credit assistance to Jan Aushadhi Kendras
IMT News Desk
6 months ago
SIDBI, PMBI sign MoU for credit assistance to Jan Aushadhi Kendras
IMT News Desk
6 months ago
SIDBI has leveraged its GST Sahay application to provide invoice-based working capital to JAKs and its Prayaas platform to provide project term loans for setting up new JAK stores
Small Industries Development Bank of India (SIDBI) has signed an MoU with the Pharmaceutical & Medical Devices Bureau of India (PMBI) to provide term loans and working capital credit to Jan Aushadhi Kendras (JAKs) being set up by aspiring entrepreneurs.
SIDBI has leveraged its GST Sahay application to provide invoice-based working capital to JAKs and its Prayaas platform to provide project term loans for setting up new JAK stores.
Speaking on the occasion, Dr Mansukh Mandaviya, Union Minister of Health and Family Welfare and Chemicals & Fertilizers, explained how the government has worked to scale up the JAK programme over the last eight years. He also emphasised the strong processes adopted to ensure the quality of the medicines being made available at the stores. The term loan will provide an opportunity for young citizens of the country to aspire and set up JAK stores of their own.
S Ramann, CMD, SIDBI said, "SIDBI has completely digitised its credit operations and for the JAK programme it has used the latest digital technology and best-in-class Digital Public Infrastructure (DPI) of the country to create a customised credit programme for JAKs."
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