New Delhi, Sept. 12 -- NPCI Bharat BillPay (NBBL) has proposed a centralised digital infrastructure to connect invoices, payments, reconciliation and financing, aimed at helping micro, small and medium enterprises (MSMEs) convert sales into cash and cash flows into formal credit.

The proposed system could help address the MSME sector's estimated Rs 60 lakh crore formal credit gap while reducing delays and costs associated with payment collection and reconciliation.

According to a report by NBBL and Bain & Company, formal credit of around Rs 34 lakh crore currently meets only part of an estimated Rs 92 lakh crore demand for MSME debt. The gap is particularly acute among smaller enterprises, where formal channels meet only 30-40 per cent ...