New Delhi, March 20 -- Access to credit has always been a major challenge for MSMEs. Issues like bureaucratic red tape, lack of collateral, and the absence of proper financial records have only added to their struggles, making it difficult to secure the capital needed to scale their businesses. However, I think digitisation is finally bridging this gap, making financing more accessible and efficient for MSMEs.
When I compare my experiences of the nineties with the present, I definitely see a marked change. Today the rise of fintech platforms and digital lending solutions has made a huge difference. These were non-existent a couple of decades back where MSMEs had to rely on a handful of PSU banks who were rather not forthcoming in lending t...