Mumbai, June 1 (KNN) The sectoral deployment of bank credit by the banks to the Micro, Small and Medium Enterprises (MSME) sector has come down by -2.5 per cent from March 18, 2016 to April 29, 2016, according to RBI data.

During the period April 18, 2014 to April 17, 2015, the deployment was 5.9% which plunged to 0.1% in April 29, 2016 to April 17, 2015. During March 20, 2015 to April 17, 2015 it was at 0.0% which further dropped to -2.5% during March 18, 2016 to April 29, 2016.

Sectoral Deployment of credit to Micro & Small Enterprises was -2.3% in Mar 18, 2016-Apr 29, 2016 whereas that to Medium Enterprises was -5.1% during the same period.

Meanwhile, the credit deployment to large enterprises too dipped by -2.4% in Mar 18, 2016-Apr 29, 2016.

Under Priority Sector, credit deployment to Micro & Small Enterprises fell by -0.3% while that to manufacturing fell by -2.3% during Mar 18, 2016-Apr 29, 2016.

Data on sectoral deployment of bank credit is collected on a monthly basis from select 46 scheduled commercial banks, accounting for about 95 per cent of the total non-food credit deployed by all scheduled commercial banks.

Overall, the credit to industry increased by 0.1 per cent in April 2016 as compared with the increase of 5.9 per cent in April 2015. Credit growth declined for several sub-sectors, notably in food processing and infrastructure. 

Credit to the services sector increased by 10.9 per cent in April 2016 as compared with the increase of 6.6 per cent in April 2015. (KNN Bureau)