SBI and Hindustan Unilever join hands to enable credit access to small retailers

Retailers face many problems in modern society. The Shikhar App by Hindustan Unilever (HUL) is a significant step in ensuring the welfare of the retailers, dealers and customers by enabling easy access to avail credits. What is most interesting about the application is that it is partnered by the country’s largest bank SBI and Hindustan Unilever (HUL).


SBI and HUL have come together for enhancing the ease of availing the credit facilities

The efforts to make India digital has been proposed by our Prime Minister, the Shikhar app helps the retailers to enter into a new world of digital facilities. It enables very easy and convenient access to credit to small retailers. We know that the world is continually running towards smart technology; these advancements also need to be reflected among the retailers too. They need to be introduced to new technological ways of ordering their credits and thus helps them to survive in a new world of fast-paced technology.

It is estimated that there more than 10 million retailers in India, and studies have shown that most of them work in an informal setup. When people work in such situations, they are more prone to be reluctant about these new technologies. One of the primary reasons can be due to the lack of trust in these financial technologies due to fear of misleading or mismanagement of their funds.

However, we need to note that the Shikhar App makes it very much convenient for the retailers; it can save a lot of their time and energy while they apply for credits or order their goods. Usually, a salesperson is required to make the orders; however, the App makes it possible without the mediation of a salesperson.

Thus, it solves a lot of problems for retailers. We are aware of the difficulties caused due to pandemic and the restrictions faced. In such a situation, being familiar with technology can avoid a lot of problems and create the best use of time and safety in the wake of the pandemic.

The chairman and managing director of Hindustan Unilever (HUL), Mr Sanjiv Mehta, said that the partnership would help its ecosystem of dealers and retailers.

The process to avail the credit is easy as the users can avail credit with the State Bank of India’s (SBI) YONO (You Only Need One) App. They make the process much easier by even enabling UPI payments from the retailers to the distributor. UPI payments increase the convenience and make it easy for almost everyone to use it.

The starting of the App looks like a partnership between two substantial financial institutions. Still, we need to note that the App makes it easier for even the standard retailers, thus it gives hope by helping to improve total productivity.

Many retailers often struggle as they find the process of availing credit very difficult. However, with Shikhar App, this painful process can look like a piece of cake if the retailers are taught well about the App and its features. It can help retailers in the unorganized sector to get more systematic through digital technology. The Shikar App is optimistic about covering a million retailers and making their finances more easy and convenient.

Read: SBI to waive processing fees on loans and provide 10 bps off on home loans.



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