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