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Banks Need to Help MSMEs to Create Jobs, Says Rajiv Kumar
October 31, 2017
Banks need to support Micro, Small, and Medium Enterprises (MSMEs) as they are the key players in the country’s economic activities and create jobs for the people, Financial Services Secretary Rajiv Kumar said.
Kumar said that the government’s decision to infuse a capital of Rs. 1.35 crores into the banking sector through recapitalization will not only improve the condition of the ailing lenders but also help them to help the small business owners that are typically affected by limited market access and cash crunch. The government is working on several concepts and schemes to improve their condition too, he said.
