Medium scale firms among those showing lowest credit deployment
Updated: Feb 07, 2014 04:52:25pm
New Delhi, Feb 7 (KNN) Credit deployment in the medium scale enterprises remains in the negative in the current financial year up to November reflecting slowdown in the economy. The deployment of credit in the sector is (-) 0.9 per cent for the period under review.
The Year on Year (YOY) credit deployment in November, 2013 over the same month in 2012 was even worse showing de-growth of 5.1 per cent.
The gross credit deployment in the micro and small scale sector up to end November in the current Financial Year was 10.6 per cent, less than half of 22 per cent growth witnessed YOY in November, according to RBI data on sectoral deployment of bank credit.
Deployment of Gross Bank Credit to Priority Sector for the period under review is 11.3 per cent. The YOY credit deployment in November, 2013 over the same month in 2012 was 24.3.
Under service sector, tourism which comprises hotels and restaurants business, the credit expansion was up by 13 per cent YOY basis.
Priority sector includes agriculture, small-scale industries, cottage sector, tiny sector, export sector and other small business (service) firms. The credit given to the retail sector was at 25.9 while that to the wholesale sector was at 14.1 per cent YOY.
The credit given to services sector under priority sector lending saw the highest growth at 28.1 per cent, whereas to the manufacturing it was at 22.4 per cent YOY. (KNN/SD)
The Year on Year (YOY) credit deployment in November, 2013 over the same month in 2012 was even worse showing de-growth of 5.1 per cent.
The gross credit deployment in the micro and small scale sector up to end November in the current Financial Year was 10.6 per cent, less than half of 22 per cent growth witnessed YOY in November, according to RBI data on sectoral deployment of bank credit.
Deployment of Gross Bank Credit to Priority Sector for the period under review is 11.3 per cent. The YOY credit deployment in November, 2013 over the same month in 2012 was 24.3.
Under service sector, tourism which comprises hotels and restaurants business, the credit expansion was up by 13 per cent YOY basis.
Priority sector includes agriculture, small-scale industries, cottage sector, tiny sector, export sector and other small business (service) firms. The credit given to the retail sector was at 25.9 while that to the wholesale sector was at 14.1 per cent YOY.
The credit given to services sector under priority sector lending saw the highest growth at 28.1 per cent, whereas to the manufacturing it was at 22.4 per cent YOY. (KNN/SD)
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