121 Finance becomes the first lender on GeM Sahay 2.0, which is built on the OCEN framework.

Banking & Finance

In January 2025, 121 Finance Private Limited, based in Jaipur (Rajasthan), India’s first Reserve Bank of India (RBI) registered Non-Banking Financial Company (NBFC) Factor, partnered with Government e-Marketplace (GeM), an initiative by the Ministry of Commerce and Industry (MoC&I). Along with Perfios Software Solutions Private Limited, based in Bengaluru (Karnataka), and Tata Consultancy Services (TCS) from Mumbai (Maharashtra), they developed GeM Sahay 2.0.


      - GeM Sahay 2.0 aims to improve financial inclusion by making the platform easier to use and more effective for Micro, Small, and Medium Enterprises (MSMEs), while providing a smooth experience for lenders.

      - 121 Finance played an important role in the pilot phase of GeM Sahay, setting a standard for digital lending with real-time, technology-driven financing, making it more accessible and useful for MSMEs.

     

Main Point :-   (i) 121 Finance, India’s largest independently owned NBFC-Factor, focuses on solving B2B (Business to Business) trade credit challenges faced by MSMEs.

      (ii) This partnership creates specialized loan products with smaller amounts, and works as key partners in the Open Credit Enablement Network (OCEN) framework.

(iii) The OCEN framework demonstrates how digital platforms can change lending in India. Its flexibility and scalability will support more projects, helping MSME growth and financial inclusion.

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