It is interesting to note that the Reserve Bank came into being in the backdrop of the great depression facing the world economy. Given the unsettled international monetary systems, the Preamble to the RBI Act, 1934 provided the edifice for the evolution of monetary policy 1/6  BIS central bankers' speeches  framework.
The larger share of SMEs in total employment relative to their share in GVA suggests that there is a problem of low productivity, which is more pronounced for very small SMEs.