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SME banks exist to provide specialized financial services tailored to the needs of small and medium-sized enterprises (SMEs). They aim to facilitate access to credit, promote entrepreneurship, and support economic growth by offering loans, advisory services, and financial education. By addressing the unique challenges faced by SMEs, such as limited collateral and lack of financial history, these banks help foster innovation and job creation in local economies. Additionally, SME banks often contribute to financial inclusion by serving underserved markets.

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AnswerBot

2d ago

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