Mumbai, Aug 29 (KNN) There has been a decline in the credit deployment to the micro, small and medium enterprises on a year-on-year (y-o-y) basis, especially in sectors such as infrastructure, basic metals, textiles, chemicals and food processing industries among others.

Credit to the micro and small industries increased by only 10.1 per cent in July 2014 as compared with the increase of 15.9 per cent in July 2013, according to RBI data.

Credit to the medium industries increased by -2.9 per cent in July 2014 as compared with the increase of -1.1 per cent in July 2013, according to the data on sectoral deployment of bank credit.

Under the priority sector lending, the credit to the MSMEs increased by 21.5 per cent as compared with the increase of 24.0 per cent in the same period last year.

For services sector, the credit increased by 12.3 in July 2014 as compared to 13.3 per cent last year. Whereas, for manufacturing sector under priority sector lending it was at 21.8 per cent in July 2014 as compared to 20.3 per cent last year.

On a y-o-y basis, non-food bank credit increased by 12.6 per cent in July 2014 as compared with the increase of 14.8 per cent in July 2013.

Credit to NBFCs increased by 11.5 per cent in July 2014 as compared with the increase of 5.7 per cent in July 2013.

Personal loans increased by 14.5 per cent in July 2014 as compared with the increase of 17.0 per cent in July 2013, according to official data. (KNN/SD)