iStockThe waiver is effective going forward and applies to both new and existing active borrowers.
DBS Bank India Limited (DBIL) has waived prepayment and foreclosure charges for all micro, small and medium Enterprises (MSMEs) borrowers registered with UDYAM, making it easier for businesses to access credit and manage cash flow. Announced on MSME Day, this move reflects the bank鈥檚 continued commitment to supporting India鈥檚 MSMEs. The waiver is effective going forward and applies to both new and existing active borrowers.This step aims to enhance borrower flexibility and aligns with regulatory guidance focused on improving transparency in lending. It also addresses a persistent challenge faced by many MSMEs鈥攚here foreclosure charges have often deterred early repayment or refinancing, restricting their ability to optimise cash flow management.Commenting on the development, Sudarshan Chari, Managing Director, and Head 鈥 SME Banking, DBS Bank India, said in a statement, 鈥淎ccess to flexible and affordable credit remains a critical need for micro, small and medium enterprises. By waiving prepayment and foreclosure charges, we are addressing a common challenge that often limits financial agility. This change enables businesses to repay loans early without penalty and reallocate funds towards immediate priorities or critical areas like inventory, technology, and expansion. It aligns with our broader efforts to support MSMEs with need-based solutions that strengthen their resilience and unlock long-term growth.鈥滵BS Bank India seeks to empower enterprises across the value chain, supporting their growth at every stage. Its SME banking proposition offers a robust suite of solutions tailored to meet the diverse requirements of entrepreneurs, combining innovative offerings with deep regional expertise.With its online account opening feature, entrepreneurs can set up current accounts quickly and seamlessly, eliminating the need for cumbersome paperwork. The bank also provides hassle-free business loans, enabling faster access to finance for growth and working capital needs. Through award-winning foreign exchange solutions and API-led banking integration, DBS Bank India helps businesses enhance operational efficiency, automate workflows, and respond swiftly to market opportunities.Live Events DBS IDEAL, the bank鈥檚 mobile-enabled corporate banking platform, allows businesses to manage payments, monitor cash flows, and track transactions in real time. Additionally, the integration with Tally ERP enables connected accounting, allowing SMEs to automatically reconcile records and maintain better control over their financial reporting.
Read More News onDBS Bank IndiaMSMEsprepayment chargesforeclosure chargessmall and medium enterprisescash flow management
Read More News onDBS Bank IndiaMSMEsprepayment chargesforeclosure chargessmall and medium enterprisescash flow management
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