MSMEs can boost finances with formal registration, digital payments: RBI DG

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MSMEs can boost finances with formal registration, digital payments: RBI DG - Business Standard

Quick Summary:

Investing in capacity building through skill development, fintech adoption, and mentorship from industry bodies can enhance operational efficiency.

These issues result in a substantial gap between the credit needs of these units and the available supply—creating what is known as the credit gap.

Challenges such as information asymmetry, limited formalisation, and inadequate collateral leave many enterprises unable to meet their financial needs.