SIDBI has launched special liquidity scheme for MSMEs
Uber said it has offered free rides worth INR 75 Lakh to Delhi government
MTR Foods has partnered with Swiggy to deliver essentials
Covid19 Tech Impact
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As coronavirus continues to wreak havoc for several businesses, the government’s relief package is yet to be announced for this class of businesses. But in a step forward, Small Industries Development Bank of India (SIDBI) has launched special liquidity scheme for MSMEs through banks including small finance banks (SFBs), non-banking financial companies including fintech NBFCs and microfinance institutions (MFIs).
The scheme would provide financial support to banks, NBFCs and MFIs by way of term loans to ensure operational continuity and promote onward lending to MSMEs. The tenure of these loans will be 90 days.
Further, in another move towards helping businesses, In partnership with the Confederation of All India Traders (CAIT), India’s department for promotion of industry and internal trade (DPIIT) has launched a challenge to find a potential way to digitise the departmental retail stores and their supply chain. Startup India is currently inviting startups and entrepreneurs to present their ideas for messaging platforms, logistics solutions, vernacular or regional language content solutions, digital payment gateways, inventory management systems, app development, contactless delivery, sanitisation of stores, hyperlocal delivery, among others.
The aim of this challenge is to digitise around 7 Cr retailers, manufacturers, distributors, and wholesalers. The initiative will bring them on board an ecommerce marketplace, which will connect manufacturers directly to consumers. An efficient delivery ecosystem and digital payments options will also be explored in the proposals.
Speaking of deliveries, MTR Foods has partnered with Swiggy to deliver food essentials. The partnership will allow consumers to purchase MTR Foods products, now easily accessible through the MTR Stores and the Urban Kirana tabs available on the Swiggy app. The store is now live in Bengaluru and will go live in other metros and tier 2 cities in a few days.
Foodtech startup My Menu has announced a complimentary QR ordering solution to restaurants worldwide beyond quick service restaurants for tackling the post-Covid-19 era.
In addition, Delhi-based digital display solutions startup, Green Grapes Devices has introduced face recognition temperature detector to detect people with fever and an automated sensor-based sanitization tunnel to ensure thorough disinfection. The face recognition temperature detector is an automatic and non-contact device with infrared temperature detection and face recognition tech. Additionally, it also identifies personnel without face masks and raises a real-time warning. The sanitization tunnel disinfects anyone that walks through it with overhead sprayers sprinkling the disinfectant solution of quaternary ammonium compound (QAC).
Further, hyperlocal news platform Lokal has tied up with DocsApp to offer medical assistance to help bust myths, reduce panic, and help educate individuals. The partnership will offer medical consultation across 20 specialities to all Lokal users in over 30 south Indian districts at just INR1 on DocsApp.
Uber said it has offered free rides worth INR 75 Lakh to the Delhi government for emergency services, which will transport frontline healthcare workers, government officials on Covid-19 related duties, and other essential services. The company said it has partnered with the government to deploy 200 Uber Medic cars, free of charge to transport non-Covid patients in coordination with the Centralized Ambulance Trauma Services (CATS) helpline.
