RBI governor Malhotra urges MSMEs to formalize, digitize, and maintain credit discipline for resilience

RBI Governor Sanjay Malhotra urged MSMEs to embrace formalization, credit discipline, and digital payments for enhanced resilience and competitiveness. The central bank reiterated its commitment to improving access to timely and adequate formal credit for the sector, a key policy priority. MSME leaders highlighted operational challenges concerning credit flow during the meeting.