How banks can support MSMEs beyond lending

How banks can support MSMEs beyond lending

Money Control

In India, around 63 million Micro, Small and Medium Enterprises (MSMEs) employ more than 100 million people. With its vast potential as a source of employment and equitable development, the MSME sector is a growth engine for the country's economy and overall progress.

The MSMEs have the potential to push India towards the ambitious goal of a $5trillion economy, and it becomes crucial to support them with all the means.

In a post-Covid-19 world, there are various impediments to the sector's growth, such as lack of formal finance, modern technology, unavailability of skilled workforce, and limited access to global markets.

Disclaimer: This is an automatically aggregated article/story by a computer program and has not been created or edited by Newsdig.in.

World COVID19 Meter

113972362

Cases

89561271

Recovered

2527399

Deaths
Last updated: GMT
Advt
Advt
Advt
sitemap Disclaimer
Newsdig.in 2019