RBI Governor Sanjay Malhotra called on banks to treat micro, small and medium enterprises as key growth partners rather than mere compliance obligations. He made the remarks while addressing International MSME Day.
Malhotra stressed the importance of digital transformation for financial institutions. He encouraged greater investment in technology, research and development, and innovation to support entrepreneurs.
The Governor also highlighted the value of existing digital tools. He pointed to the Account Aggregator system and the Unified Lending Interface as ways to deliver more efficient, data-driven credit.
Banks were advised to move beyond traditional approaches. The focus should shift toward using technology to improve credit access for smaller businesses.