Microenterprise development crucial to economic development: RBI’s Chakrabarty

kcchakrabarty

KC Chakrabarty, a deputy governor at the Reserve Bank of India, delivered the keynote address at the Citi Micro Entrepreneur Awards Ceremony, organised by Citi Bank in Mumbai on December 5, 2011.

Chakrabarty said in a developing nation's economy, the small and microenterprises played a "vital" role.

"If India has to have a growth rate of 8–10% for the next couple of decades, it needs a strong micro and small sector and micro entrepreneurs need to be nurtured".

He said these sectors not only give

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