The global financial crisis has been keeping the world on edge for nearly two years now. The turbulence in the international financial markets that erupted in August 2007 developed into a full-blown global financial crisis in September 2008 with the collapse of US investment bank Lehman Brothers.
The ability of MSMEs (especially those involving innovations and new technologies) to access alternative sources of capital like angel funds/risk capital needs to be enhanced considerably has been acknowledged by the Prime Minister’s High Level Task Force on MSMEs and has recommended the need for removing fiscal/regulatory impediments to use such funds by the MSMEs on priority. 19.