MSME funding: How FinTechs can help address credit gap for small businesses
A symbiotic relationship between banks and digital NBFCs can lead the way towards a win-win situation for all
The introduction of the Co-Lending Model (CLM) allows banks and registered NBFCs to co-lend to provide credit
The MSME (Micro, Small and Medium Enterprises) sector is emerging as one of the most significant pillars of the Indian economy as it contributes largely towards nation-building. MSME has emerged as the growth engine of the economy with a vast network of about 6.33 crore enterprises contributing 30 per cent of our nominal Gross Domestic Product (GDP) and 48 per cent to exports, said RBI Governor Shaktikanta Das, while addressing an event last week on the occasion of 185th Foundation Day Celebration of Bombay Chamber of Commerce and Industry.
Centre aims to increase MSMEs share in GDP to 40%: Nitin Gadkari
Addressing a workshop at the Mahatma Gandhi International Hindi University at Wardha in Maharashtra, Union Minister Nitin Gadkari pointed out that village industries and Khadi generate as much as Rs 88,000 crore on an annual basis
PTI | February 7, 2021 | Updated 09:17 IST
Union Minister Nitin Gadkari emphasised that a policy has to be made to empower the poor
The government aims to increase the MSME sector s share in the GDP to 40 per cent to benefit the rural poor, Union Minister Nitin Gadkari said.
Currently, around 6.5 crore micro, small and medium enterprises (MSMEs) contribute 30 per cent to GDP.