- The Economic Times Rise
"RBI’s co-lending model: A relief for the priority sector"
The Micro Small and Medium Enterprises (MSMEs) sector play a crucial role in enhancing and ensuring India’s socio-economic development. The sector has gained significant importance due to its contribution to the country’s Gross Domestic Product (GDP) and exports. A survey by the International Labour Organisation indicates that MSMEs account for more than 70% of global employment and 50% of GDP.
However, it was one of the sectors impacted by the Covid-19 pandemic and the resultant lockdowns, capital crunch, high-risk perception by banks, etc., in India. Further, the protracted nature of the pandemic has resulted in a global slowdown and all-time high inflation rates.
Read more at The Economic Times Rise