SME Times News Bureau | 29 Mar, 2014
Credit of scheduled commercial banks to micro and small enterprises in manufacturing sector rose by 25.1 percent y-o-y in February, according to data released by the RBI recently.
Reserve Bank of India data for the month of February 2014 on sectoral deployment of credit shows that credit to micro and small enterprises rose 25.1 percent against 19.8 percent in the same period last year.
Credit to large industries grew 12.2 percent compared to a growth of 18.9 percent in the same period last year.
According to some bankers, the data shows shift in interest of banks to retail and SME sectors.
Retail loans grew at a faster pace and showed a growth of 16.5 percent against 14.6 percent in the same period the previous year.
As a whole, growth in loans to the Indian industry in February rose just 13.2 percent y-o-y compared to an increase of 17.4 percent in the same period last year.
Loan to the priority sector grew 20 percent in the month against 14 percent in February 2013.
Within the priority sector, credit to the micro & small enterprises (both manufacturing as well as sector only) grew 24.5 percent y-o-y while export credit (foreign bank only) contracted 2 percent against 40.2 percent growth in February 2013.
Micro & small enterprises under priority sector includes credit to medium enterprises (Rs.346.31 billion).
The consumer durable loan segment grew the fastest in retail loans and increased 52.7 percent against 15.3 percent in the year-ago period.
Non-food bank credit showed a slight drop in growth to 14.7 percent on a year- on-year basis.
sir ashfaq | Thu Apr 3 18:26:50 2014
We are SSI unit for shoe manufacturing unit.we need a financial assistance for the import and exports, can you please give me which are the institution that we can get financed,
Thanks for your valuable reply.
