Credit offtake remains robust in April across sectors, shows RBI data

Loans to medium-sized industries gerew 53.5% this April as compared with 44.8% a year ago

Building on the momentum in FY22, credit offtake continued to be robust across all sectors - farming, industry, services and retail in April 2022, the first month of the new financial year (FY23).

Reserve Bank of India data showed credit to industry accelerated to 8.1 per cent year on year in April 2022 (following a contraction of 0.4 per cent in April 2021), higher than 7.1 per cent in March 2022.

Size-wise, credit to medium-sized industries registered a growth of 53.5 per cent in April 2022 as compared with 44.8 per cent last year. Credit growth to micro and small