Webinar on ‘role banks play in growth of MSME sector’
MSMEs have been among the worst impacted segments in the pandemic, and many have found it difficult to sustain themselves due to limited capital, labor shortage and distribution reach. They play a significant role in the economy with about 30 per cent share in the GDP, and are also the largest employers in the country.
RBI data show that bank credit to industry fell by 0.3 per cent in June 2021, compared to a year ago. In contrast, micro and small industries rose by 6.4 per cent in June versus a contraction of 2.9 per cent a year ago. Credit to medium industries registered a robust growth of 54.6 per cent in June.