.............At the same time, banks have failed to shoulder the responsibility of meeting the credit requirements of India's teeming, diverse, dynamic and under-funded unorganised sector. The sector meets 78% of its credit needs from NBFCs, moneylenders and other informal sources. And at an exorbitant cost. The way out is for the RBI to see a segment of NBFCs as the last-mile, low-cost intermediaries who would funnel the banks' own priority sector funds to the small and medium sector. This class of NBFCs should have the ability........
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