- Financial Express
How fintechs, banks, govt can reduce lending cost to MSMEs, enhance credit accessibility
Credit and Finance for MSMEs: Due to lack of transmission through smaller NBFCs and fintechs, the expected benefits of govt support schemes didn’t reach most players.
Credit and Finance for MSMEs: The MSME sector has remained a key driver of large-scale employment generation and also a lucrative hub for India’s innovative startups. Being home to 60 million enterprises, this sector contributes 33 per cent of total manufacturing output, 45 per cent of exports, and employs an estimated 80 million people in the country.
However, most businesses in this space have been reeling under the impact of uncertainty and broken supply chains with the advent of Covid-19 that shook the world like never before.