Strengthening MSMEs: How NBFCs are Addressing the Current Credit Needs of Small Businesses in India

By Parry Singh According to the Standing Committee on Finance report, India’s growth engine, the MSMEs, face an oversize credit gap of around Rs 20-25 lakh crores. A credit gap refers to the difference between the demand for the credit and its supply from the formal channels. In fact, the ACCA report highlights that this credit gap has been worsening over the last five years. Furthermore, over 80% of the MSMEs have no access to formal financing. The micro, small, and medium enterprises (MSME) sector is key to nurturing economic...
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