Published : February 23, 2024, Updated : March 13, 2024

Empowering Growth Drivers: How RBI`s KFS Mandate is Transforming MSMEs

Empowering Growth Drivers: How RBI`s KFS Mandate is Transforming MSMEs

Micro, Small, and Medium Enterprises (MSMEs) serve as the vital pulse of any economy. In India, their impact is profound, contributing an impressive 30% to the GDP and representing over 50% of exports. Despite their significance, these economic drivers frequently encounter hurdles, especially in accessing financial services. Predatory lending practices take advantage of MSMEs’ vulnerabilities, impeding their growth and exacerbating financial instability. Empowering MSMEs with financial literacy is crucial to unleashing their full economic potential.

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