The Centre envisions a contribution of Rs 2 lakh crore from micro, small and medium enterprises (MSMEs) as India eyes becoming a USD 5 trillion economy by 2024
The contraction has been across all the four segments of the commercial credit segment, including micro, small, medium, mid and large enterprises
Usha Thorat says it's absolutely essential for financial stability that bank spreads are not under threat
The partnership comes after the Reserve Bank of India announced progressive Co-Origination Policy in September 2018, allowing banks and NBFCs to co-lend to a wider set of enterprise owners
India's 60 million MSMEs are broadly defined as businesses with annual revenue up to Rs 2.5 billion
Of the total formal credit of around Rs 100 trn, only 25% is extended to MSMEs currently