MSME bank credit to grow at 12-14% in FY23: CRISIL

Mumbai, April 30 (KNN) CRISIL has projected a bank credit growth of 12-14 per cent for the micro, small and medium enterprises (MSMEs) in FY23.

MSME segment has witnessed a higher credit growth in the past year and is likely to have the same trajectory, benefiting from the government’s Atmanirbhar Bharat initiative and the impact of schemes such as the PLI, said the report.

For the overall bank credit growth the rating agency has estimated that it will move up by 200-300 basis points to 11-12 percent.

The estimate bakes in CRISIL’s forecast of 7 per cent plus gross domestic product (GDP) growth in the current financial year. 

Krishnan Sitaraman, senior director and deputy chief rating officer at CRISIL Ratings, said that the biggest difference this year is the potential of corporate credit growth which looks set to double to 8-9 per cent. (KNN Bureau)