Mumbai, Dec 1 (KNN) The sectoral deployment of credit to the medium enterprises sector fell steeply from -1.3% in Oct 2013-14 to --9.1% in Oct 2014-15. While that to the micro and small sector it tumbled from 16.5% during Oct 2013-14 to 4.9% during Oct 2014-15.

The declining trend has become consistent for the credit deployment since past few months to the credit starving MSME sector, especially to the medium enterprises sector, which plays a major role in the manufacturing, export and job creation.

Under Priority sector lending too, the credit to the micro and small enterprises fell from 19.8% to 9.8% YoY basis.

According to an official data released by the RBI, during March 20 - October 30, 2015, the deployment of gross bank credit by major sectors to the medium enterprises was -10.9% while that to the micro and small enterprises it was -2.6%.

However, during March 21 - October 31, 2014, the deployment of gross bank credit by major sectors to the medium enterprises was - -2.6% while that to the micro and small enterprises it was 1.3%. (KNN Bureau)