Growth in bank credit to MSEs in June drops from year-ago period; check total credit deployed
Bank credit to MSMEs: The gross bank credit by scheduled commercial banks deployed to micro and small enterprises (MSEs) under priority sector lending in June 2023 grew 19 per cent in comparison to 22.6 per cent growth during June 2022. According to the latest sectoral deployment data from the Reserve Bank of India (RBI), MSEs were deployed Rs 16.95 lakh crore in June vis-a-vis Rs 14.25 lakh crore in June last year. In comparison, Rs 11.62 lakh crore were deployed in June 2021.
Deployment in the medium-sized enterprise segment also recorded growth of 15.1 per cent to Rs 4.18 lakh crore in June this year from Rs 3.63 lakh crore in June last year wherein 48.1 per cent growth was recorded from Rs 2.45 lakh crore deployed in June 2021.