Unlocking Grassroots Growth: Responsible Credit for MSMEs

In a call for responsible lending practices, Financial Services Secretary M Nagaraju addressed the PICUP Fintech Conference, urging lenders to ensure credit availability to not only large corporations but also micro, small, and medium enterprises (MSMEs) and small businesses. He stressed the need for inclusive economic growth by unlocking entrepreneurial potential at the grassroots level.

Speaking at the conference, organized by the Indian Banks' Association in collaboration with Ficci, Nagaraju emphasized the significance of a resilient and stable financial system. He underscored the government's commitment to a robust financial sector through reforms aimed at improving asset quality and enhancing credit discipline.

Nagaraju highlighted India's resilience amid global challenges, noting the country's strong GDP growth forecast and financial sector stability. He pointed to the banking sector's low non-performing assets as evidence of its strength and called for a comprehensive policy framework to support infrastructure and economic expansion.