"Bank credit to micro, small enterprises jump 23% in June against 0.6% contraction year ago: RBI

Bank credit to micro and small enterprises (MSEs) continued to expand year-on-year (YoY), registering 23.7 per cent growth in June 2022 against a contraction of 0.6 per cent in June 2021, showed latest data by the Reserve Bank of India (RBI) on sectoral deployment of bank credit. The gross bank credit deployed to MSEs in June stood at Rs 14.29 lakh crore vis-a-vis Rs 11.55 lakh crore deployed in June last year and Rs 11.62 lakh crore in June 2020.

In May, the credit growth stood at 27 per cent with Rs 14.23 lakh crore deployed to MSEs, up from Rs 11.20 lakh crore in May 2021. Likewise, a 19.7 per cent jump was recorded in April with Rs 14.08 lakh crore deployed to MSEs in comparison to Rs 11.77 lakh crore in April 2021.Banks reported healthy YoY credit growth of 60 per cent to medium enterprises as well with Rs 3.63 lakh crore deployed in June this year from Rs 2.26 lakh crore in June 2021. The growth was higher at 64.8 per cent in May 2022 with Rs 3.57 lakh crore deployed in comparison to Rs 2.16 lakh crore during the year-ago period.

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