- Financial Express
Loans to industry flat as MSME credit loses steam
The growth in the loans to the industry has stagnated with the banking sector clocking an 8.7% growth in January. The moderation is on account of the slower pace of growth in MSME credit, which was the main driver of the growth in loans since April.
Banks’ credit to the medium industries grew 30% in November, 15% in December and 18% in January, data from the Reserve Bank of India (RBI) shows, while loans to micro and small industries has grown 20%, 14% and 15% in the respective months.