India’s Micro, Small, and Medium Enterprises (MSMEs) are the backbone of the economy, contributing significantly to GDP, employment, and exports. Despite their economic importance, MSMEs often face hurdles like limited access to financing, outdated technology, and operational inefficiencies. Non-Banking Financial Companies (NBFCs) have risen to prominence as key players in bridging these gaps, providing MSMEs with tailored financial solutions to fuel their growth. NBFCs as Enablers of MSME Growth NBFCs, known for their agility and customer-centric approach, have carved out a niche in India's financial ecosystem. They are especially adept at meeting the specific needs of MSMEs, offering innovative solutions that go beyond the capabilities of traditional banks. Accessible and Quick Credit Traditional banks often require extensive collateral and have lengthy approval processes that make financing inaccessible to many MSMEs. NBFCs like Poonawalla Fincorp , Bajaj Finserv, and Tata Capit...
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