How MSMEs, households are falling deeper into debt trap despite FM’s stimulus

Debt, MSME
Data indicates most of the 6.33 crore MSMEs in the country, employing nearly 11 crore people, are hurting due to debt burden that worsened due to the COVID lockdown | Image - Eunice Dhivya
Laxman Pethekar, 44, a banking correspondent working in ICICI bank in Mumbai, had borrowed two personal loans from Aditya Birla Finance (₹1 lakh in February 2020) and from Bajaj Finance (₹4 lakh in 2019) for a five-year term.
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