In this regard, the various initiatives taken by the Government of India and Reserve Bank such as adoption of the Business Correspondent (BC) model, relaxation of KYC norms, simplified branch authorization, preparation of board approved financial inclusion plans, mandatory opening of 25% of new branches in unbanked rural centres, preparation of financial inclusion plans by banks, etc.
are expected to accelerate the process of financial inclusion in the country and the MSME sector is expected to be among the beneficiaries of the same through better access to bank credit. BIS central bankers’ speeches  7  Table 1 Outstanding credit to the MSE sector by SCBs (No. of A/Cs – in million) (Amount – Rs.