Technology and innovation will continue to play a pivotal role in creating a business friendly atmosphere for the MSMEs. All stakeholders- whether banks, MSME firms or the policy makers- must make efforts in their respective domains to seize the opportunity that the MSME sector provides.
For a healthy and mutually beneficial relationship between the banks and borrowers, it would be essential for both parties to understand and appreciate each other’s point of view. The bottom line is that the information asymmetry that exists between the two parties needs to be bridged and industry associations like ASSOCHAM would have to strive to make that possible.