The “Formalization” hustle is a one-way street.
The “Formalization” hustle is a one-way street. The latest SIDBI report is out, and it’s a masterclass in bureaucratic optimism. The headline? We have 6.2 crore registered MSMEs—up from 2.5 crore just a year ago. But look closer at the data. While 90% of you are “digital” enough to take a UPI payment , only 18% can actually get a digital loan.