New Delhi, July 3 (KNN) With the double digit growth in credit facility to medium, small and micro enterprises (MSMEs), the MSME players of services sector have been benefitted rather than those belong to manufacturing.

According to data released by Reserve Bank of India (RBI), bank credit outstanding to MSMEs grew only 0.2 per cent year-on-year to Rs 3.61 lakh crore, as on May 25.

On May 26, 2017, bank credit outstanding to manufacturing MSMEs stood at R3.6 lakh crore, 0.1 per cent higher than a year ago.

This shows that there has been little improvement in manufacturing MSME’s access to credit from a year ago.

Credit to MSMEs as a whole grew 9 per cent y-o-y in May 2018, with the growth being driven almost entirely by enterprises in the services sector.

Credit growth in service sector showed a significant improvement from the previous year, when it had grown by 5% year-on-year. Outstanding loans to services MSMEs grew 15 per cent y-o-y to Rs 5.9 lakh crore.

Last week, credit bureau TransUnion Cibil and the Small Industries Development Bank of India (Sidbi) had released a report which stated that for the period March 2017 to March 2018, entities with a credit exposure of under Rs 25 crore saw a credit growth of 15.4 per cent.

Enterprises with a credit exposure of under Rs 10 lakh saw a credit growth of 35 per cent, while those with an exposure between Rs 10 lakh and Rs 50 lakh clocked 21 per cent.

Enterprises whose credit exposure ranges between Rs 1 crore and Rs 5 crore witnessed a credit grow by 17 per cent on a y-o-y basis, according to the report, which did not make a distinction between manufacturing and services enterprises.