Small Industries Development Bank of India (SIDBI) signed an agreement with a fintech Onion Life Private Limited to use its technology platform KarmaLife for a pilot to provide small enterprise loans to gig workers.
Banking & Finance
Small Industries Development Bank of India (SIDBI) signed an agreement with a fintech Onion Life Private Limited to use its technology platform KarmaLife for a pilot to provide small enterprise loans to gig workers. Onion Lifeās innovative technology platform āKarmaLifeā will help gig workers access micro loans through a mobile app and eliminates the hassle of extensive paperwork or physical documentation. The partnership with Onion Life will help understand and assist the new and emerging enterprise class of gig workers. The pilot will also help in developing an institutional mechanism for assessment of credit risk of this segment.
Small Industries Development Bank of India (SIDBI)
Founded- April 1990
HQ- Lucknow, Uttar Pradesh
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