Simplified Trade Finance
Credit and Finance for MSMEs: Banks and NBFCs often rely on balance sheets to weigh the credibility of a business or look for hard collateral such as property or other fixed assets which an MSME owner may not be always in a position to produce.
The rise of fintech in India since then has also attracted the attention of many small and large players. Till a few years ago, the Indian fintech ecosystem was dominated by homegrown start-ups such as Paytm, along with backend vendors that catered to banking and financial service institutions.
The effect of coronavirus is likely to be seen long after medical science offers a cure or at least a vaccine. Barclays estimates that India’s aggressive 21-day lockdown could bring the country’s growth down to 2.5% from the 4.5% it had earlier estimated.
Budget 2020 India: While the government has taken bold steps to ease the passage for payment gateways and neo-banks, SMEs need to be handheld further to adopt efficient tech-driven business practices.