IRIS Business shares in focus on signing MoU with Goa government

Shares of IRIS Business Services will be in focus on Thursday after the fintech company signed a Memorandum of Understanding (MoU) with the Goa government to support the growth of the MSME ecosystem in the state.

IRIS Business Services has partnered with the Department of Industries, Trade & Commerce, Government of Goa, in a Public-Private Partnership (PPP) to offer data-driven technology solutions for small and medium enterprises. The initiative aims to enhance MSME credit access and streamline compliance management, the company said in an exchange filing.

The MoU signing ceremony was attended by Goa Chief Minister Shri Pramod Sawant, Goa Industrial Development Corporation Chairman Shri Aleixo Reginaldo Lourenco, and IRIS CEO S. Swaminathan.


The key focus areas of the MoU would involve enhancing MSME credit flow, the company said. Goa’s credit-deposit (CD) ratio was 26.5% in 2023, well below the national average of 75.8%. IRIS aims to leverage digitization and data analytics to facilitate better access to credit for MSMEs. The company said it will also introduce an integrated compliance platform based on a common data standard, reducing the regulatory burden on businesses in Goa.

The Government of Goa will extend policy and administrative support to the initiative, along with awareness programs to promote digital adoption among MSMEs.

IRIS CEO S. Swaminathan said the partnership is expected to bridge funding gaps and ease compliance challenges for MSMEs in the state.

IRIS Business Services’ stock closed 2% lower on Wednesday at Rs 365.80 on the BSE. The stock has surged 151.81% over the past year and gained 42% in the last six months. However, it has declined 32.42% in the last one month and fallen 9.58% over the past week.

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