Scheduled commercial banks have expanded their deployment to micro, small, and medium enterprises (MSMEs) under priority sector lending to Rs 21.69 lakh crore in September 2023, marking a 17.2% increase from the Rs 18.50 lakh crore deployed in September 2022, as per the Reserve Bank of India's (RBI) latest sectoral deployment data. Despite this growth, small businesses still grapple with persistent challenges in accessing funds, a point emphasized in the G20 Policy Recommendation Paper by the World Bank during the September G20 Summit. The paper highlights the $5 trillion finance gap for formal MSMEs in developing economies, particularly women-owned businesses, and proposes digital payment systems and improved public infrastructure for credit access. The Global Partnership for Financial Inclusion aims to improve MSMEs' access to finance by promoting cash-flow-based lending and reducing collateral requirements, as seen in FY23.