The pick up in inflation rate from 1970s onwards reflected the impact of a sharp rise in money supply growth and also partly supply shocks from crude oil prices and crop failures. Demand pressures, emanating partly from the widening fiscal imbalances, also contributed to inflationary pressures in the 1980s.
In short, they need ‘anytime anywhere’ financial services that are aligned to the nature of their enterprises. 1  Following this listening tour, CBK used its convening power to bring banks to the table to provide a solution for MSMEs. I was pleased to see a consortium of five banks stepping up to the plate when we did a soft launch in May 2019.