Role of banks in development of MSME in India

Page: 490-492

Reena (Department of Economics, CMJ University, Meghalaya)

MSMEs sector has been speculated as a vivacious, and vibrant sector in the overall industrial development of Indian economy, and this sector also plays as an important device for the development of the Indian economic system through its contribution in many fields such as; employment generation, growth in export, foreign exchange, industrial output, and living up to the requirement of new material to heavy and large-scale industries in India. Banks always stood behind the growth of MSMEs in all possible ways. Credit landing institutions have also played an important role in development of MSME sector in India. IFI and the Government has a vital contribution in development and promotion of MSME sector. The present paper analyzes the role of banks in development of MSME in India.