Aditya Birla Capital Launches ‘Udyog Plus’: An Innovative One-Stop Business Platform for MSMEs

* A comprehensive suite of offerings to fuel MSME growth and success

Aditya Birla Capital, the  financial services business of the Aditya Birla Group, through its lending arm, Aditya Birla Finance, announced the launch of Udyog Plus, an innovative one-stop business platform, designed for MSME customers. This new B2B digital platform offers a wide range of solutions for MSMEs, including financing, protection, investments, advisory and value-added services for managing and growing their businesses.

Udyog Plus is an open marketplace that can be accessed through the financing section of the Aditya Birla Capital website by both existing as well as new customers of Aditya Birla Finance. They can avail the entire suite of financing solutions, from unsecured business loans to customised secured lending and supply chain financing solutions, as well as curated business loans. The 360-degree solution suite of financial services covers financing, insurance, and investment solutions for MSMEs and their entire ecosystem including promoters, owners and employees. In addition, Aditya Birla Capital Ltd., (“ABCL”) had recently collaborated with the National Payments Corporation of India (NPCI) to develop and promote a complete set of digital payment options to customers, through its subsidiaries. The payment stack will be made available for the MSMEs as well.

Positioned as a comprehensive one-stop solution, Udyog Plus offers a wealth of useful features and tools to help MSMEs achieve their larger business goals in a seamless manner. The platform is live and offers a completely paperless digital journey for business loans of up to Rs 10 lakh. Udyog Plus is integrated with government e-commerce websites via Open Credit Enablement Network (OCEN) and with private e-commerce websites to provide credit facilities to sellers on these platforms.

Aditya Birla Finance has also partnered with leading solution providers to provide a host of value-added services to the MSME customers such as free access to business networking platforms, digital commerce including registration on the ONDC seller network, corporate travel solutions, zero balance bank account, accounting, payroll, and tax filing tools and specialized knowledge content hub.

Commenting on the launch, Mrs. Vishakha Mulye, CEO, Aditya Birla Capital Ltd., stated, “MSMEs are the key growth drivers of the Indian economy, and their contribution towards bolstering India's growth has been commendable. We are committed towards supporting the growth of these businesses and our comprehensive digital platform - Udyog Plus aligns with the government’s goal of building a financially inclusive and Digital Bharat.”

Mr. Rakesh Singh, MD & CEO, Aditya Birla Finance Ltd., added, “We are excited to launch Udyog Plus for our MSME customers, which will empower them to achieve new horizons of success. Through this platform, we aim to establish Aditya Birla Finance Ltd., as a trusted partner to our MSME customers to help them experience a seamless way of managing and growing their businesses.”

Aditya Birla Finance already has a strong presence in the MSME segment. The total AUM stood at Rs 80,556 Crore as of March 31, 2023, with exposure to business loans at Rs 40,353 Crore with a 36 per cent year-on-year growth. This platform will enable Aditya Birla Finance to serve MSME customers better and create a winning experience for them while further strengthening its value proposition in the market.

Aditya Birla Capital follows a digital-first approach to drive product innovation, direct acquisition, frictionless customer experience and superior service delivery across its businesses. ABCL has incorporated a wholly owned subsidiary, Aditya Birla Capital Digital Limited (“ABCDL”) to develop an omni-channel Direct to Customer (D2C) platform to serve existing customers, acquire new customers and act as a one stop-solution for delivering PIFA solutions to customers. It has also launched INFINITE, its flagship start-up engagement programme, to co-create solutions with tech-driven start-ups for enhancing customer journeys and increasing operational efficiencies.

About Aditya Birla Capital Limited

Aditya Birla Capital Limited (“ABCL”) is the holding company for the financial services businesses of the Aditya Birla Group.

With subsidiaries/JVs that have a strong presence across Protecting, Investing and Financing solutions, ABCL is a financial solutions group that caters to the diverse needs of its customers across their life cycle. Powered by more than 34,000 employees, the businesses of ABCL have a nationwide reach with over 1,295 branches, more than 2,00,000 agents/channel partners and various bank partners.

As of March 31, 2023, Aditya Birla Capital Limited manages aggregate assets under management of about Rs. 3,600 billion with a consolidated lending book of approx. Rs. 943 billion, and an active customer base of approx. 38 million, through its subsidiaries and joint ventures. Aditya Birla Capital Limited is a part of the Aditya Birla Group, which is in the league of Fortune 500. Anchored by an extraordinary force of over 140,000 employees, belonging to 100 nationalities, the Aditya Birla Group operates in 36 countries across the globe. For more information, please visit www.adityabirlacapital.com

About Aditya Birla Finance Limited, an Aditya Birla Capital Company

Aditya Birla Finance Limited (“ABFL”), a subsidiary of Aditya Birla Capital Limited, is among the leading well-diversified non-banking financing services company in India. ABFL offers end-to-end lending, financing, and wealth management solutions to a diversified range of customers across the country. ABFL is registered with RBI as a systemically important non-deposit accepting non-banking finance company (“NBFC”) and is amongst the top five largest private diversified NBFCs in India based on AUM.

As of March 31, 2023, ABFL has a total asset under management of Rs. 805.56 billion and total equity of Rs.114.26 billion. ABFL’s long-term credit rating of AAA (Stable) has been reaffirmed by ICRA in February 2023. ABFL also has a long-term credit rating of AAA (Stable) by India Ratings, Perpetual debt credit rating of AA+ (Stable) by ICRA and AA+ (Stable) by India Ratings (Stable) and short-term credit rating of A1+ by ICRA & India Ratings. ABFL caters to the varied needs of a diverse set of customers across retail, HNI, ultra HNI, micro-enterprises, SMEs, and mid and large corporates. ABFL offers customized solutions in the areas of personal finance, mortgage finance, SME finance, corporate finance, wealth management, debt capital markets and loan syndication.