The Department of Posts has collaborated with the Small Industries Development Bank of India (SIDBI) to conduct Contact Point Verification of informal micro enterprises registered on the Udyam Assist Platform. This partnership aims to ensure the accuracy and reliability of business details for these enterprises. India Post will leverage its extensive network of over 1.64 lakh post offices and trained field staff to verify the enterprises on the ground.
SIDBI, the entity overseeing the Udyam Assist Platform, emphasized that this verification initiative will enhance data quality and facilitate easier access to formal credit for small informal businesses. The platform’s primary focus is on integrating informal micro enterprises into the formal system through thorough data validation and verification processes. To streamline this effort, SIDBI has introduced a dedicated mobile application for real-time data collection and secure uploading of geo-tagged photographs.
The Memorandum of Understanding (MoU) between the Department of Posts and SIDBI is set to be effective for two years, starting from December 31, 2025, until December 30, 2027, with the possibility of extension upon mutual agreement. This agreement encompasses various aspects such as data security, confidentiality, GST compliance, and structured payment systems. The collaboration underscores India Post’s increasing role in supporting national priorities like MSME development, financial inclusion, and the formalization of the informal economy, ultimately aiding small businesses in accessing institutional finance.
