New Delhi, Oct. 28 -- Recognising the Micro, Small and Medium Enterprises (MSME) sector as the backbone of India's economic growth, Reserve Bank of India (RBI) Deputy Governor Swaminathan J reaffirmed the central bank's continued commitment to strengthening the MSME credit ecosystem.

Delivering the keynote address at the 30th Meeting of the Standing Advisory Committee (SAC) on MSME credit flow, held in Coimbatore on Monday, the Deputy Governor described the MSME sector as a key driver of employment, entrepreneurship, and regional industrial diversification.

He highlighted the RBI's ongoing initiatives-such as the Unified Lending Interface (ULI), Account Aggregator framework, and the Regulatory Sandbox-that are promoting data-driven and ...