New Delhi, Sept. 25 -- The Small & Medium Business Development Chamber of India (SME Chamber of India) has urged the government and banks to implement urgent reforms aimed at improving credit access for micro, small, and medium enterprises (MSMEs).

The Chamber submitted detailed recommendations to the Department of Financial Services (DFS) and the Reserve Bank of India (RBI), highlighting persistent financial bottlenecks that constrain the sector's growth, Business Standard reported.

In its memorandum to M. Nagaraju, Secretary, DFS, the Chamber noted that MSMEs remain key drivers of industrial growth, exports, and employment, but face high borrowing costs, limited financial support, and slow responsiveness from banks.

It observed that ...