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  • Financial Express

MSME loans: Credit outstanding by banks jumps 12% in FY23; 49% growth in 5 years

Bank loan to MSMEs: The credit outstanding to the MSME sector by scheduled commercial banks in the financial year 2022-23 grew by 12.3 per cent to Rs 22.6 lakh crore from Rs 20.11 lakh crore in FY22, according to the data shared by Bhanu Pratap Singh Verma, Minister of State in the MSME Ministry in a written reply to a question in the Rajya Sabha. The amount outstanding in FY21 and FY20 stood at Rs 17.83 lakh crore and Rs 16.13 lakh crore respectively. During the five-year period, the credit outstanding to the MSME sector grew by 49.6 per cent from Rs 15.10 lakh crore during FY19.

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