Bain, NPCI Bharat BillPay flag interoperable layer to close India’s MSME credit gap
A joint report says linking invoices, payments, banks and public systems through a centralised digital layer could improve B2B reconciliation and enable cash-flow-based financing for MSMEs facing a Rs 60 lakh crore formal credit gap.
What happened
NPCI Bharat BillPay Ltd · A Bain and NPCI Bharat BillPay report says an interoperable digital layer linking invoices, payments, banks and public systems could
Key facts
- Rs 60 lakh crore MSME formal credit gap
- Institutional channels meet 30-40% of MSME debt demand
- More than Rs 130 lakh crore in business-sector economic activity
- 45% of India's gross value added
- Over 20 crore monthly GST e-invoices
- Rs 8 lakh crore in delayed MSME receivables
Why this matters
Banks, fintechs and payments platforms should assess partnerships around invoice, receivables and public-data integrations as the interoperability stack for MSME finance takes shape.