Innovative financial solutions to boost MSME growth in India: Nasscom ...Middle East

New Delhi: In order to boost the MSME growth in the country, there is the need for innovative financial solutions and banks should improve transparency in loan approval processes and eliminate unused credit charges, according to a report on Thursday. MSMEs are a cornerstone of India’s economy, contributing nearly 30 per cent of GDP, 45 per cent of manufacturing output and 46 per cent of exports in fiscal year 2024. According to a report by Assocham in collaboration with Egrow Foundation, introduction of MSME-specific bonds and mutual funds to enhance financial liquidity, promotion of mobile banks to serve informal micro-enterprises as well as the expansion of Small Finance Banks (SFBs) to b

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