MSME Banking Index: An Initiative to Understand & Improvise Level of MSME Banking in India
- By NewsOnFloor Staff
- Aug 22, 2019
- 101 views
In a bid to build bridge of understanding between MSMEs and banking organizations by analyzing the MSMEs’ Banking behaviors, India’s flagship MSME focused media platform-SMEStreet is proud to introduce a Pan-India MSME outreach or connect initiative of MSME Banking Index.
As we all know, banking is recognized as the most critical element for MSMEs’ growth. And MSMEs are getting termed as engines of economic growth and policymakers have taken this sector on high priority.
MSME Banking Index of SMEStreet is also an effort of making a meaningful contribution in Nation building through overall MSME ecosystem development. This exercise is an initiative designed to understand MSME's perspective of MSME Banking, MSME Credit related issues and as a result this initiative is likely to deliver some key insights which can be used to build bridge of solution in the gaps of MSME related finance and banking issues.
It is important to mention that a current goal setting of the government includes ambitious targets of becoming 5 trillion dollar economy in next few years. And as MSME ministry is working towards achieving a substantial growth in the numbers related to MSMEs’ GDP contribution. “On such backdrop, it is extremely important to create a business oriented ecosystem for MSMEs in India. As a focused media platform for this sector, it becomes a commitment for us, to make highlight actual gaps related to basic needs of MSMEs and address them accordingly. The MSME Banking Index is an initiative to understand the status of MSME banking and get an idea of missing gaps in the area of MSME finance/Banking. Hence we invite more and more participation from MSMEs by expressing their experiences related to their banking.” says Faiz Askari, Founder of SMEStreet.
Presently, MSMEs’ contribution into the national GDP is around 29 % and the goal settings for this is to let the MSMEs reach to the level of 50% contribution into the national GDP in next few years. So, in simple terms, MSME Development is directly proportional to nation-building.
In this activity of MSME Banking Index, SMEStreet is reaching out to MSMEs across India, across industry verticals, and trying to understand MSMEs; banking-related experiences. This survey is an editorial activity designed to understand MSME’s perspective of MSME Banking, MSME Credit related issues and trends.
This action is designed to come out with certain conclusions which can further contribute to improvising the level of MSME banking in the country.
This is a collective effort for the betterment of the MSME sector and we, at SMEStreet appeal for support of every stakeholder involved in this.
For more please write to Faiz Askari at [email protected]
Here is the form for every MSME entrepreneur which we request to fill. CLICK HERE to FILL the Survey Form
Source : business-wire-india