Need to bring 80% MSMEs under formal financial system: M Nagaraju

M. Nagaraju has emphasized the importance of integrating 80% of Micro, Small, and Medium Enterprises (MSMEs) into the formal financial system. Many MSMEs currently operate in the informal sector, which limits their access to financial services and credit. Bringing these enterprises into the formal system could provide them with better financial support, improve transparency, and boost their growth potential. Nagaraju's call reflects a broader effort to enhance the economic stability and viability of MSMEs, which are crucial to the economy. Formalization would facilitate better financial management and contribute to the overall health of the financial sector.