With the Central and State governments doubling down on their efforts to make access to formal finance easy for Micro Small and Medium Enterprises (MSMEs), and their robustness in the sector in recent years, hassle-free finance may no longer be a problem for MSMEs, according to Canara Bank General Manager (Madurai Circle) T.V.K. Mohan. Speaking at the third edition of the Madurai MSME Summit 2023 organized by the Confederation of Indian Industry (CII) here on Friday, he said that banks would be more willing to grant loans to MSMEs at competitive interest rates, provided the companies have a clear intention, clean records of financial transactions, and enjoy a good credit score from the rating agencies. He said that there are about 630 lakh registered MSMEs in the country. They contributed about 30% of India’s GDP. The sector provides employment to over 11 crore people and directly contributes to or supports about 40–45% of the country’s exports.