India’s micro, small and medium enterprises (MSME), viewed as the lifeblood of the Indian economy, contribute 30% to the gross domestic product (GDP) and of them, micro-enterprises alone are estimated to employ 23% of India’s total workforce, according to the data of the Union ministry of MSME. Access to credit has been the most contentious issue discussed on public platforms. International Monetary Fund (IMF) estimated that only 23% of the total number of enterprises in this segment got formal access to credit.