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Bank credit to micro, small enterprises jump 23%
August 03, 2022
The gross bank credit deployed to MSEs in June stood at ₹14.29 lakh crore vis-a-vis ₹11.55 lakh crore deployed in June last year and ₹11.62 lakh crore in June 2020.
In May, the credit growth stood at 27 percent with ₹14.23 lakh crore deployed to MSEs, up from ₹11.20 lakh crore in May 2021. Likewise, a 19.7 percent jump was recorded in April with ₹14.08 lakh crore deployed to MSEs in comparison to ₹11.77 lakh crore in April 2021.
Banks reported healthy YoY credit growth of 60 percent to medium enterprises as well with ₹3.63 lakh crore deployed in June this year from ₹2.26 lakh crore in June 2021. The growth was higher at 64.8 percent in May 2022 with ₹3.57 lakh crore deployed in comparison to ₹2.16 lakh crore during the year-ago period.
Overall bank credit deployed to the entire MSME sector in June was ₹17.93 lakh crore, marginally up from ₹17.81 lakh crore deployed in May and ₹17.63 lakh crore in April. The share of bank credit to MSMEs in India’s gross bank credit of ₹121.49 lakh crore in June 2022 stood at 14.76 percent, slightly down from 14.80 percent in May.
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