The Parliamentary Standing Committee on Finance in India has recommended providing a credit card to MSME owners, which will ensure access to regular credit to small businesses while facilitating a mechanism for payment scores. Chairman of the Committee Jayant Sinha said such a card would bring MSMEs into a formal financing system while providing them access to working capital and capital loans at affordable rates. Stating that less than 40% of the MSMEs now borrow from the formal financial system, the panel, in its report, noted that the overall credit gap in India’s MSME sector is currently around Rs 25 trillion.
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.