C.  Steps taken by Government of India / Reserve Bank of India  Recognizing the important role played by MSMEs in economic development and its sizeable contribution to employment and GDP, and realizing that financial access is critical for MSME growth and development, Government and Reserve Bank of India are taking the lead in supporting initiatives that improve access to finance.
In view of the high level of financial exclusion in this sector (93%), the drive to universal financial access, including SME finance, is no longer a policy choice, but a compulsion. The Reserve Bank of India has intensified a number of measures and endorsed quantitative access targets over the last few years to further financial inclusion.