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Bank credit to micro, small enterprises up 14% YoY in March
May 02, 2023
Bank credit to micro and small enterprises under priority sector loans in March 2023 grew by 14 per cent year-on-year (YoY) vis-a-vis 13.2 per cent YoY growth in March 2022, showed the latest monthly data on sectoral deployment of bank credit by the Reserve Bank of India (RBI). MSEs were deployed ₹15.70 lakh crore in bank credit in March this year vis-a-vis ₹13.77 lakh crore in March last year and ₹15.61 lakh crore in February this year.
Credit to medium-sized enterprises also saw 13.4 per cent growth in March to ₹3.99 lakh crore from ₹3.51 lakh crore deployed in March last year. In February 2023, ₹3.90 lakh crore was deployed to medium units.
Aggregate priority sector credit by banks to MSEs and medium units in March 2023 stood at ₹19.69 lakh crore 14.4 per cent of ₹136.55 lakh crore non-food bank credit deployed across sectors with 13.8 per cent growth from ₹17.29 lakh crore deployed in March 2022.
Among other sectors eligible for priority sectors credit were agriculture and allied activities receiving ₹17.08 lakh crore, housing receiving ₹6.21 lakh crore, educational loans ₹58,634 crore, renewable energy ₹4,656 crore, social infrastructure ₹2,464 crore, export credit ₹15,696 crore, etc., in March 2023.
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