Paper Contents
Abstract
Micro, Small, and Medium Enterprises (MSMEs) play a vital role in the economic growth and development of countries worldwide. In India, the MSME sector has emerged as a significant contributor to employment generation, innovation, and entrepreneurship. In this blog, we will explore the importance of MSMEs, their role in Indias economy, and how MSME loans support small businesses and small businesses in their journey towards success. Traditional lending methods prevent micro-enterprises from accessing credit to grow their operations. As the economy enters the next credit cycle, banks are finding both opportunities and challenges in the market for lending to small and medium-size enterprises (SMEs). Although volumes are growing slowly, most banks are not reaching their full potential. Many still use old business models, rely on legacy processes, and even view SMEs as corporate entities. By failing to meet the needs of these businesses, banks are leaving opportunities on the table.
Copyright
Copyright © 2023 Rayan Chopra. This is an open access article distributed under the Creative Commons Attribution License.
