Revitalizing trade finance for MSMES in India through blockchain technology
By: Pandey, Pramod Kumar
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Contributor(s): Singh, Ratnesh Kumar.
Publisher: Kolkata CMA Kaushik Banerjee 2022Edition: Vol.57(10), Oct.Description: 80-82p.Subject(s): Construction Engineering and Management (CEM)Online resources: Click here
In:
Management and accountant journalSummary: Role of MSMEs in the economic and social growth of India is indispensable. However, trade finance is a major concern for most of the MSMEs in India. Blockchain technology can play here a crucial role by providing a secured and transparent digital platform thereby reducing both compliance time and cost. However, implementation of blockchain technology requires strong willingness, robust IT infrastructure, substantial changes in regulatory systems and basic IT skills on the part of the users. Given the vision of the Government of India to bring 60 per cent of the SMEs credit under digital umbrella by 2029, it can be contemplated that a new era will open for MSMEs in trade finance in India.
| Item type | Current location | Call number | Status | Date due | Barcode | Item holds |
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Articles Abstract Database
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School of Engineering & Technology (PG) Archieval Section | Not for loan | 2023-1528 |
Role of MSMEs in the economic and social growth of India is indispensable. However, trade finance is a major concern for most of the MSMEs in India. Blockchain technology can play here a crucial role by providing a secured and transparent digital platform thereby reducing both compliance time and cost. However, implementation of blockchain technology requires strong willingness, robust IT infrastructure, substantial changes in regulatory systems and basic IT skills on the part of the users. Given the vision of the Government of India to bring 60 per cent of the SMEs credit under digital umbrella by 2029, it can be contemplated that a new era will open for MSMEs in trade finance in India.
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