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Global Financial Meltdown (GFM) has become a global phenomenon. It is causing hollowness in the economies around the world. The GFC (Global Financial Crisis) has led to financial crunch all over the developed economies by thereby lowered down the purchasing power of people. This has resulted the developed economies has been slipped into economic recession. The global financial crisis has been affecting the prospects of developing economies, especially the SME sector. The SME units are facing multiple challenges, viz., demand shock, price volatility, high cost of credit, general credit tightening, shortage of trade finance, and protectionist measures in their export markets. In India too, a number of steps have been taken to counter the impact of economic slowdown on the SME sector. Read more.....
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