The shortage in the availability of equity and finance for the small and medium enterprises in the country is a problem, Reserve Bank of India (RBI) deputy governor Usha Thorat said on Tuesday.
?While the SME sector contributes highly to the GDP and the employment of the country, there is unavailability of sufficient equity for them,? she said.
Thorat was speaking at the sidelines of the launch of the Halcyon Forum, a mid market focused corporate.
She strongly said that while India happens to be the second largest growing economy in the world, there are still persists challenges for the Indian businesses and the SME sector here.
?The global financial sectors has impacted the business of Indian companies as well and banks need to be given time to restructure their loans given the current scenario,? said Thorat.