MSMEs are the best vehicle for inclusive growth in the country, to create local demand and consumption. Besides supporting employment generation activities, they also act as feeder lines for the MNCs and large corporates of tomorrow.
In its early recommendation1 the European Systemic Risk Board proposed clear mandates for macroprudential decision-makers, cooperation between relevant authorities, as well as a leading role for the central bank in macroprudential policy – irrespective of the specific institutional structure.