New Delhi, March 2 -- The overall credit to Micro, Small and Medium Enterprises (MSMEs) in November 2020 accelerated to 5.0 per cent as compared to a contraction of 0.6 per cent a year ago, said a bulletin by Reserve Bank of India (RBI).
As per the RBI data, MSME sector accounted for a share of around 18 per cent in the total credit to the industry and around 5 per cent in the total non-food credit extended by the scheduled commercial banks in November 2020.
Credit growth to MSMEs, which has generally remained subdued in recent years, received a further setback due to the pandemic.
However, there has been a turnaround in credit to this sector in recent months mainly due to a sharp increase in credit extended to the medium industries. ...