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.
Published : February 23, 2024, Updated : July 16, 2024
Empowering Growth Drivers: How RBI`s KFS Mandate is Transforming MSMEs
