During the late 1980s and the 1990s, a substantial shift occurred in thinking about the role of the central bank in the economy. Experience of past episodes of hyperinflation in various countries, as well as of moderate inflation, exemplified in the breakdown of the Bretton Woods system, led to the finding that monetary policy is not necessarily independent of the government of the day.
To address the cash flow constraints that SMEs have faced due to COVID-19 restrictions, banks have restructured their loans to see them through this turbulent times. Equally inspiring is the move by financial institutions and technology players to build the skills of SMEs by automating and training them on financial management.