Financial ExpressDec 19, 2022Bank credit to MSMEs up 24% in FY22 from pre-Covid level: RBI dataCredit and finance for MSMEs: The total amount of credit extended to MSMEs in the financial year (FY) 2021-22 by scheduled commercial banks has increased by 24.6 percent from FY20 and 12.7 percent from FY21, indicating the rise in credit demand among small businesses fast-tracking their Covid recovery. According to the data from the Reserve Bank of India (RBI) shared by the MSME Minister Narayan Rane in the Rajya Sabha on Monday in a written reply to a question, the credit outstanding to the MSME sector increased from Rs 16.13 lakh crore given to 384.18 lakh borrowers to Rs 17.83 lakh crore to 420.19 lakh borrowers in FY21 and further to Rs 20.11 lakh crore to 264.67 lakh borrowers in FY22.Read more at Financial Express
Credit and finance for MSMEs: The total amount of credit extended to MSMEs in the financial year (FY) 2021-22 by scheduled commercial banks has increased by 24.6 percent from FY20 and 12.7 percent from FY21, indicating the rise in credit demand among small businesses fast-tracking their Covid recovery. According to the data from the Reserve Bank of India (RBI) shared by the MSME Minister Narayan Rane in the Rajya Sabha on Monday in a written reply to a question, the credit outstanding to the MSME sector increased from Rs 16.13 lakh crore given to 384.18 lakh borrowers to Rs 17.83 lakh crore to 420.19 lakh borrowers in FY21 and further to Rs 20.11 lakh crore to 264.67 lakh borrowers in FY22.Read more at Financial Express
