iSPIRT in front seat as Centre’s plans of a credit platform for MSMEs takes shape

MUMBAI: The Indian Software Products Industry Round Table (iSPIRT), a sectoral think tank, may soon ask some of the biggest names in India’s burgeoning consumer internet ecosystem to join the government’s ambitious plans to provide real-time access to digital credit for millions of small businesses through a common network, its cofounder said.

The software products industry organisation could engage with these companies for the Open Credit Enablement Network (OCEN), which is modelled on the Unified Payments Interface (UPI) for retail digital transactions. iSPIRT is in talks with “more than 30 consumer-facing entities” to become third-party service providers on the common network protocol laid out by the developers, Sharad Sharma said.