MSME initiatives yielding results

The Finance Ministry has said that its MSME initiatives have started to yield results and that credit to the micro sector was up 20 per cent on year-on-year basis. MUDRA loans contribute to the offtake, Department of Financial Services Secretary Rajiv Kumar tweeted. Public sector banks’ share in first-time borrowers stood at 79 per cent. “The transformational shift is under way!” the tweet added.