Role of Banking Sector in Entrepreneurship Development of Assam

Abstract

The banking sector in Assam plays a pivotal role in fostering entrepreneurship by providing essential financial infrastructure, support, and services. This article explores the various contributions of banks to entrepreneurial activities, including financial support, microfinance, business development services, and innovation support. Banks offer credit facilities, microloans, and savings options, particularly benefiting marginalized groups and rural populations. Financial literacy programs, business planning, and advisory services enhance entrepreneurs' decision-making and skills. Additionally, banks support startups through partnerships with incubators and accelerators. Specialized agricultural loans and infrastructure financing aid agripreneurship, while inclusive growth is promoted through financial inclusion initiatives. The banking sector's collaboration with government schemes ensures comprehensive support for entrepreneurs. Overall, banks in Assam drive economic development and job creation by addressing local entrepreneurs' unique challenges.