RBI Approves Blockchain-Based MSME Financing Platform by IBDIC

The India Blockchain Development and Innovation Council’s tokenised invoice solution, backed by major banks, aims to speed and reduce credit costs for small suppliers.

Summary

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Terms & Concepts
  • Tokenised Invoice: A digital representation of an invoice on a blockchain, enabling secure, transparent, and rapid transactions for financing purposes.
  • MSME Financing: Financial solutions tailored for micro, small, and medium enterprises to improve access to credit and working capital.
  • Blockchain-Based Financing: A funding mechanism leveraging distributed ledger technology to enhance transaction transparency, reduce costs, and increase efficiency.