FinanceLatest From News

COMMERCIAL CREDIT GROWTH RICOCHETED TO THE LEVEL PRIOR TO 2019 PANDEMIC: REPORT

“As on Sept 2020, the total on balance-sheet commercial lending exposure in india stood at Rs. 71.25 lakhs crore witnessing a growth of 2.1 percent year on year”- TransUnion CIBIL-SIDBI MSME Pulse report.

Predominately, for the MSMEs, the Credit exposure expands to 5.7 percent on an annual basis in Sept last year amounting to Rs. 19.09 lakhs. This growth was experienced across all the sub-segments of MSME lending. The Public Sector Banks emerged as the leading drivers behind the growth due to the amalgamation of data analytics and credit information solutions to swiftly comply with the ECLGS guidelines.

The PSBs registered a 30 percent yearly growth in loan origination in Sept 2020. For private banks, the growth stood at 16 percent in Sept last year.

The recent trends for Dec 2020 and Jan 2021 depicted a reversal of this trend. Private banks have resumed MSME lending and are closing the gap promptly, it said.

Source- Business Line

https://www.thehindubusinessline.com/money-and-banking/commercial-credit-growth-rebounds-to-pre-covid-level-report/article33868874.ece

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button