♦ Mastercard has tied up a strategic partnership with U GRO Capital, a Non-Banking Financial Company (NBFC) specializing in Micro, Small, and Medium Enterprises (MSME) financing.  This collaboration aims to provide financial solutions to small businesses in India, addressing the longstanding challenge of limited access to capital faced by MSMEs.

♦ MSMEs in India have long grappled with substantial challenges, including constrained access to capital. According to recent reports, out of over 64 million MSMEs in India, only 14 per cent have access to credit.