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Credit growth to industry accelerates to 8.7%

Published on July 01, 2022
Current Context: Credit Growth to industry grew 8.7% in May, compared to 7.1% earlier, as per RBI data.
Credit growth continues for Small and Mid-size Businesses
  • Credit growth to medium industries grew 49.3% in May compared to 47.9% earlier.
  • The credit growth to micro and small industries has shown a drastic increase to 33% from 8.9% earlier.
  • The main reason behind it was a rise in economic activity, higher working capital limits due to rising input costs, and borrowing has also increased.
  • Apart from that, it has seen dramatic growth in agriculture and allied activities at 11.8% in May 2022.
  • As per RBI, an uptrend has been seen in retail loans which grew by 16.4%, especially in the housing and vehicle loans segments.
  • In addition to that, the non-food bank credit grew 12.6% compared to 4.9% a year ago.

Question:

Q.1 As per the RBI, The credit growth in micro and small industries has seen rapid increase to what percentage?
a. 45%
b. 33%
c. 52%
d. 30%
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