Chennai: Small Industries Development Bank of India (SIDBI), the apex financial institution that engages in the promotion, financing and development of Micro and Small Enterprises (MSEs) recently organized National Microfinance Congress – 2019 to deliberate on the vision of microfinance in India and aims to achieve the same in the backdrop of an evolving regulatory and economic landscape.
According to a press release, as the sector continues to face the challenges like gaining access to credit from formal sector owing to limited awareness of sources, lack of financial literacy, credit history and collateral and resultant high interest rates, it has been suggested by the Microfinance Congress for the industry to establish strong governance and regulatory practices for a sustainable growth path.