MSME credit up 18 per cent annually till September 2025, data shows

Growth remained largely stable on a sequential basis, however. Portfolio growth continued to outpace borrower expansion, signalling a shift toward larger ticket-size loans and maturing profiles

India’s MSME credit exposure (up to Rs 100 crore) stood at Rs 43.3 trillion as of September 2025, marking a 17.8 per cent year-on-year growth and remaining stable quarter-on-quarter (it was Rs 43.4 trillion in June 2025). Active loans grew 5.7 per cent Y-o-Y to 192.9 lakh, and stayed broadly stable on a Q-o-Q basis. Portfolio growth continued to outpace borrower expansion, signalling a shift toward larger ticket-size lending and maturing customer profiles. Small businesses emerged as the largest contributors to exposure, rising from 38.4 per cent to 39.5 per cent YoY, with a similar upward shift seen in medium