The Emergency Credit Line Guarantee Scheme (ECLGS) launched by the Government of India in May 2020 to provide relief to micro, small and medium enterprises (MSMEs) adversely affected by the Covid-19 pandemic has saved 1.35 million MSMEs from going bankrupt and consequently 15 million jobs. Disclosing this, a State Bank of India (SBI) research report claimed that MSME loan accounts worth Rs 1.8 trillion were saved from slipping into the non-performing asset (NPA) category during the period, which was equivalent to 14 percent of the outstanding MSME credit being saved from becoming NPA.
FinTech’s Green Revolution: Nurturing Sustainable Practices Among Small Businesses
BY Triterras
- 09/04/24
Ashish Srivastava, our Triterras' Chief Commercial Officer shares in-depth with Intelligent Fin.Tech, a global technology intelligence platform which gathers the latest financial information, on how FinTech has emerged as a crucial catalyst, motivating and supporting small to medium enterprises on their path towards environmental responsibility through sustainable trade finance.