Bank credit to industry turns around in FY22, infra lending tops Rs 1 trn

Credit to medium-sized industries grew a robust 71.4% in March 2022 from 34.5% last year, that to micro and small units was 21.5% (3.9%) and to large industries was 0.9% against contraction of 2.5%

Keeping up pace with the economic upturn, credit to industry rose by 7.1 per cent (year-on-year) in FY22. This is against a de-growth of 0.4 per cent in FY21, a year when the first wave of Covid devastated the economy.

The Reserve Bank of India (RBI), in a statement, said size-wise, credit to medium industries registered a robust growth of 71.4 per cent in March 2022 compared to 34.5 per cent last year. Credit growth to micro and small industries accelerated to 21.5 per cent from 3.9 per cent. Credit to large industries recorded a marginal growth of 0.9 per cent