Godrej Capital Nirmaan partners with DBS Bank India, Visa, Amazon to support MSMEs

Godrej Capital, the non-banking finance company (NBFC) arm of Godrej Group, has forged collaborations with DBS Bank India, Visa, and Amazon as part of its Nirmaan digital platform initiative, aimed at providing an extensive range of services to micro, small, and medium enterprises (MSMEs). The announcement highlighted Nirmaan's commitment to supporting MSMEs through diverse value-added services (VAS) to enhance market reach, financial assistance, legal and compliance simplification, employee welfare, and others.

Speaking about the partnership, Manish Shah, MD & CEO at Godrej Capital, said, “We aim to be catalysts and help MSMEs beyond lending by being a part of their business growth journey. We firmly believe that, with the collective commitment and services provided by our partners, we can make a difference and contribute towards making India a USD 5-trillion economy.”

Value-Added Services For MSMEs

The partnership between Godrej Capital and DBS Bank India will offer MSMEs access to a comprehensive suite of value-added services, featuring a customized current account. Businesses registered with Nirmaan can enjoy exclusive benefits that go beyond the regular suite of offerings, such as a one-year waiver on Minimum Average Quarterly Balance non-maintenance fees, seamless integration with Tally ERP for connected banking, highly competitive trade and foreign exchange pricing, the convenience of a Business Debit Card powered by Visa, and exclusive partner offers, providing financial support for MSMEs.

“Leveraging our local market insights and deep understanding of business realities, we have designed an exclusive set of benefits for MSMEs on Nirmaan that will help free-up cash flows through special fee-waivers on the current account variant, along with a host of partner offers to enhance business agility. The partnership underlines our commitment to empowering MSMEs across India to unlock their growth aspirations,” said Rajat Verma, MD and Head Institutional Banking Group, DBS Bank India.

Payment Solutions

Visa, a global leader in digital payments, will provide comprehensive payment solutions for MSMEs through the Nirmaan platform. Its extensive network and global acceptance will also support DBS Bank India’s personalized offerings for Nirmaan users.

Sujai Raina, Vice President and Head, Business Development, India, Visa said, “MSMEs are vital to the socio-economic and inclusive growth of the country, and Visa helps them unlock opportunities and value with its solutions. We are facilitating the DBS Current Account with a Business Debit Card offering specially curated for Nirmaan users, that allows MSMEs to make payments seamlessly, thus enabling them to drive business priorities and growth imperatives”.

E-Commerce Listing

Amazon's partnership with Nirmaan will help MSMEs showcase and sell their products to customers across India by listing them on Amazon.in. It will additionally help open the door to global markets, with a three-month subscription to Amazon’s e-commerce exports program called Amazon Global Selling.

“Through our collaboration with Godrej Capital Nirmaan, we aim to bring the benefits of digitization and e-commerce closer to MSMEs. They will be able to leverage Amazon to showcase and sell their products to customers across India and capitalize on export opportunities. They will also be able to digitize their day-to-day operations through omni-channel inventory management solutions. We believe that such collaborations will help MSMEs serve their customers with unparalleled dedication and grow their business excellence,” said Gaurav Bhatnagar, Head - Seller Acquisition at Amazon India.

In addition to the existing partners Onsurity, Zolvit and MSMEx, the new partners—GeM  Tech Paras, Escrowpay, GreytHR, and Serapis Knowledge Solutions—will provide MSMEs with access to a wider range of solutions to help them grow their businesses.

Conclusion

Focusing on overall value creation through ecosystem development and partnerships, Godrej Capital Nirmaan aims to contribute towards the entrepreneurial and socio-economic development of the MSME sector in India, ultimately contributing to the growth of the economy and nation-building. The platform goes beyond lending offerings and provides value-added services encompassing business growth opportunities, ease of business, and knowledge and network avenues.