New Delhi, Nov. 28 -- About 40% of the micro businesses were denied loans (both formal/informal) as they did not have sufficient collateral or lacked positive credit history, said a report by the Global Alliance for Mass Entrepreneurship (GAME).
Nearly 21% of the businesses lacked requisite documentation for the application while applying for loan.
The report is a nationwide study titled as 'Road to Recovery: Examining the impact of Covid-19 on microbusinesses in India' and is supported by IKEA Foundation and LEAD at KREA University.
It looks at how the Indian MSME sector managed the pandemic period lockdowns.
The study conducted over 2020 and 2021 in two rounds, each across 1955 micro businesses, pointed out that over 50% of ent...