India Post, SIDBI join hands to verify informal micro enterprises on Udyam assist platform

New Delhi, Dec 31: The Department of Posts has signed a Memorandum of Understanding with the Small Industries Development Bank of India to verify informal micro enterprises registered on the Udyam Assist Platform, Ministry of Communications said on Wednesday.
The agreement aims to carry out Contact Point Verification of informal micro enterprises to ensure the accuracy and reliability of their business details.
The MoU was signed by Manisha Bansal Badal, General Manager for Citizen Centric Services and Rural Business at the Department of Posts, and Amit Nagar, Deputy General Manager at Small Industries Development Bank of India.
Under the partnership, India Post will use its vast network of more than 1.64 lakh post offices and its trained field staff to carry out on-ground verification of enterprises registered on the Udyam Assist Platform.
The verification process will include checking business details, location, and other key information, supported by geo-tagged evidence.
SIDBI, which is responsible for developing and managing the Udyam Assist Platform, said the initiative will help improve data quality and make it easier for small informal businesses to access formal credit.
“The platform focuses on bringing informal micro enterprises into the formal system through proper data validation and verification,” the ministry said.
To support the process, SIDBI has developed a dedicated mobile application that will allow real-time data collection and secure uploading of geo-tagged photographs.
SIDBI will also provide the necessary technical infrastructure, guidelines, and training to ensure the verification process is carried out smoothly and uniformly across the country.
The MoU will remain in force for two years, from December 31, 2025, to December 30, 2027, and can be extended with mutual consent. The agreement also includes provisions related to data security, confidentiality, GST compliance, and structured payment systems.
The ministry said the collaboration highlights the growing role of India Post in supporting national priorities such as MSME development, financial inclusion, and the formalisation of the informal economy, while enabling small businesses to gain better access to institutional finance. (IANS)