Fintech Firms Aim to Close $530 Billion Credit Gap for MSMEs

13 Jan 2025 CW Team

India's fintech industry is urging the government to introduce measures in the upcoming budget that would improve credit accessibility for Micro, Small, and Medium Enterprises (MSMEs). Despite recent policy initiatives, a significant credit gap persists in the sector. According to the Reserve Bank of India, the total finance demand for MSMEs stands at $1,955 billion, with $1,544 billion specifically required in debt financing. Currently, only $289 billion of this demand is being met by banks, leaving a $530 billion gap that fintech companies and Non-Banking Financial Companies (NBFCs) could help fill.

The introduction of the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE) has provided some relief, but experts suggest simplifying eligibility criteria for NBFCs to address the gap more effectively. Additionally, the government's Samadhaan portal shows significant unpaid dues, with over 40,000 pending applications, further exacerbating liquidity issues for MSMEs.

Infrastructure Energy

18 Jun 2025

Solar Street Lights Illuminate Rangamati in Assam

Rangamati village in Assam鈥檚 Kamrup rural district has received a significant infrastructure upgrade to enhance road safety and mitigate human鈥揺lephant conflict: solar-powered street lighting has been installed along its main thoroughfares.鈥疶he project covers approximately one kilometre of village roads, providing consistent lighting from dusk to dawn. Operated by solar panels and backed by battery storage, these lights offer zero-operational-cost functionality while ensuring safety for both villagers and wildlife. Luminaries are strategically placed to illuminate key crossings and reduc..

Infrastructure Transport

18 Jun 2025

Kumbakonam Station to Undergo Rs 990鈥疢illion Redevelopment

Kumbakonam Railway Station in Tamil Nadu is set to undergo a major redevelopment, with an investment of Rs鈥�990鈥痬illion earmarked for the project. The modernisation plan includes upgraded passenger facilities, improved circulation paths, and revamped services, reflecting the station鈥檚 cultural significance in an ancient temple town known for its historical heritage and religious tourism.Key improvements planned include:Expanded waiting areas featuring enhanced seating arrangements and improved comfortModernised ticketing halls with separate zones for online and counter servicesUpgraded fo..

Infrastructure Transport

18 Jun 2025

Haryana Orbital Rail Corridor to Boost IMT Manesar

Haryana is set to enhance regional rail connectivity with the construction of the Haryana Orbital Rail Corridor (HORC), spanning approximately 121 kilometres and linking key industrial and urban centres, including the Industrial Model Township (IMT) Manesar. This orbital rail link will serve as a catalyst for economic activity and dramatically improve travel times in the National Capital Region (NCR).This new corridor will connect Palwal鈥揗anesar鈥揜ewari鈥揝ohna鈥揔harkhoda鈥揚alwal, creating a seamless rail loop that links the Delhi鈥揗umbai and Delhi鈥揂hmedabad freight corridors. By integ..