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Mobile Electric Charging App released by MSME Minister Narayan Rane

At the Fueling India 2022 event in Mumbai, Union Minister of Micro, Small, and Medium Enterprises (MSME) Narayan Rane introduced Repos Pay, a platform for Mobile Electric Charging, and Phy-gital a platform for fintech. On the Repos Pay platform, users can order mobile electric charging vehicles and use them to charge their cars. A Fintech platform called Phy-gital will use technology to enable consumers to use credit to fuel purchases (Buy Now Pay Later). Fuel-on-credit options for large users will be facilitated through the energy fintech platform.

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KEY POINTS:

  • P. Udaykumar, chairman of the National Small Industries Corporation, praised the aspiring businesspeople who are making waves in the energy sector despite the fact that the majority of start-ups in the nation are in the IT and digital industries.
  • Speaking about the MSME ministry’s and NSIC’s support of the nation’s micro, small, and medium-sized businesses, Shri Udaykumar said that their goal is to establish a very beneficial MSME ecosystem. India is currently the focus of attention from the entire world. Even throughout COVID, the country’s MSME sector persevered.
  • Shri Udaykumar continued by stating that the sector’s performance has returned to pre-COVID levels. He also discussed the Ministry’s and the Government’s initiatives to help MSMEs.

Important Takeaways For All Competitive Exams:

  • Chairman of the National Small Industries Corporation: Shri P. Udaykumar
  • Union Minister of Micro, Small, and Medium Enterprises (MSME): Narayan Rane

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