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LATEST NEWS UPDATES | MSME loans back on track in FY22 -G Naga Sridhar

MSME loans back on track in FY22 -G Naga Sridhar

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published Published on May 22, 2022   modified Modified on May 23, 2022

-The Hindu Business Line

Micro and small loans as on March 2022 grew by 21.5 per cent to 4,95,281 crore from 4,07,675 crore as on March 2021
  
The advances to Micro, Small and Medium Enterprises (MSMEs) are growing at a good pace, as banks are turning liberal in sanctioning loans.

The data pertaining to the fourth quarter ended March 31, 2022 as well FY22 show increase in MSME advances compared to previous year, which was hit by the uncertainties of the Covid-19 pandemic.   

An analysis of last two years data of Reserve Bank of India shows huge surge in loans to MSMEs. The outstanding micro and small loans as on March 2022 grew by 21.5 per cent to 4,95,281 crore as against 4,07,675 crore as on March 2021.  

The advances to medium enterprises were more phenomenal and stood at 2,42,269 crore as on March 2022 (1,41,339 crore as on March 2021), registering 71.4 per cent growth.   

The growth in advances was quite significant if one looks at the comparable figures of FY 21 with those of FY20.  

The lending to micro and small businesses grew only at 4 per cent as on March 2021. The growth in loans to medium enterprises, however, was at 34 per cent.  

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The Hindu Business Line, 22 May, 2022, https://www.thehindubusinessline.com/money-and-banking/msme-loans-back-on-track-in-fy22/article65446638.ece


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