Digitalization of Direct Lending Process at SIDBI A Step toward Hyperautomation Susmi Routray Prabin Kumar Panigrahi Paramendra Tiwary Case Study Solution

Digitalization of Direct Lending Process at SIDBI A Step toward Hyperautomation Susmi Routray Prabin Kumar Panigrahi Paramendra Tiwary

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A step towards hyperautomation, SIDBI is digitalizing its direct lending process, a move towards greater efficiency, greater transparency, and improved speed, according to the senior vice president and director general of the lender, B.C. Gopalakrishnan. The digital transformation of SIDBI, which has a total fund corpus of Rs. 32,400 crores, began on November 1, 2017. It has since been gradually migrating processes from manual to digital across the l

SWOT Analysis

Sector: Finance and Investment In recent years, technology has transformed industries across various sectors, and direct lending is no exception. It has become increasingly possible to carry out lending operations through digital platforms. It allows lenders to speed up the decision-making process, make more informed decisions, and provide faster loan approvals. In India, direct lending is the fastest-growing segment of the loan industry. look these up The volume of loans disbursed by SIDBI (State Bank of India

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In last year’s annual report, SIDBI (State Bank of India) highlighted that the ‘Industry-4.0’ (Fourth Industrial Revolution) is transforming the Indian economy. With the advent of digitalization, the traditional lending process has become automated, digital and intelligent. As I write this, SIDBI has initiated a digital transformation journey by acquiring a digital lending system from CISCO, a US multinational corporation, in order to accelerate its business process. It is a step toward hyperautom

Case Study Solution

SIDBI is a State Government Scheme launched by the then Governor of the State of Andhra Pradesh G. Subramanya Reddy in the year 1992. The initial intention of the SIDBI was to provide financial facilities to the state governments for development of various sectors like health, agriculture, rural development etc. The scheme aimed at providing financial resources in the form of loans, credit facilities and other support services. Home However, it has expanded its operations to cater to various industries and to help entrepreneurs to finance their

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Digitalization of Direct Lending Process at SIDBI A Step toward Hyperautomation The Director of Small Industries Development Bank of India (SIDBI) and other senior staff were attending a meeting of the board on 18th March 2021. It was decided at the meeting that the bank will soon launch a ‘Digital Lending’ scheme that will enable customers to borrow from the bank’s lending centers or through SIDBI e-platform. Digital Lending is a modern lending mechanism that leverages digitalization of processes and lever

Recommendations for the Case Study

My experience is that SIDBI had been a pioneer in digitalizing direct lending. The bank’s process to lend had remained unchanged for decades — through a process of handwritten notarization. The bank’s process had a significant human element that was not fully automated. To digitize the process, the bank had to be open to embracing new technology and processes. The bank’s approach to digitalization began with identifying its pain points and frustrations. Based on the customer feedback, the bank’s IT department set about designing