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Need for a Finance Taskforce

The assessed debt demand of MSMEs is INR 69.3 lakh crores, only 16% of which is formally financed

Out of ~10,000 NBFCs in India, only the top 30 NBFCs get 80% of banks’ sectoral exposure

Disrupted working capital cycles due to delayed payables from buyers to MSMEs

Supply chain financing accounts for less than 1% of GDP in India vs 12'13% in other parts of the world.

About Us

We are a group of passionate individuals and institutions from industry, civil society, academia, and public policy keen to increase access to formal credit to MSMEs.

Credit facilitates growth through investments in assets, expansion, upskilling of workers and more. Affordable and timely credit can create a virtuous cycle of job creation for India’s mass entrepreneurs.

We do this by identifying structural challenges in the financing ecosystem and work with banks, NBFCs, regulators, philanthropies and others to address them

Finance Taskforce Members

Anjuly Chib Duggal

Chairperson, Game Finance Taskforce & GAME Advisory Board member, & Former DFS Secretary, Govt of India

Ketki Bhagwati

Board Member,
Axis Bank

Pranay Bhargava

Founder, Impact Micro

Sharon Buteau

Executive Director, LEAD
at KREA University

Ramesh Dharmaji

Advisor, GAME & Former CGM, SIDBI

Shantanu Ghosh

CEO, Social Finance

Shivaprasad Krishnan

Founder & CEO, KRICON Capital

Mekin Maheshwari

Co-founder, GAME


Areas of focus

Innovations in

Supply chain financing & factoring

Break in business insurance

Finance for women entrepreneurs

How do we operate

Influence policy
Create and evangelise new financial products and services
Support partners with expertise and outreach

Our Partners


Initiatives so far

Working session to spur collaboration on delayed receivables

Delayed receivables are an existential risk to MSMEs and have system-wide implications. Estimates suggest that at least INR 15 lakh crore is stuck in delayed receivables, with average delays ranging from 3 to 6 months beyond the stipulated 45 days under the MSMED Act. A group of interested partners came together for a working session to build a common understanding of different initiatives and the support required for scale, Identify opportunities for collaboration, brainstorm and prioritise product pilots.

In the News

A quarter of MSMEs may shut shop if the lockdown persists

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Covid-29 impact on women-led micro biz widens socio-economic gap: Report

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MSME Finance Week focuses on solutions to challenges around MSME financing

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Got any questions or want to collaborate with us?