MSME Loan Portfolio Reaches ₹64.1 Trillion in FY24: Report September 13, 2024 MSME Sampark Msme News 0 The loan portfolio of Micro, Small, and Medium Enterprises (MSMEs) in India has reached a significant milestone, hitting ₹64.1 trillion by March 2024, as per the fourth edition of CRIF High Mark’s How India Lends Report. This represents a 17.8% year-on-year growth, largely driven by the increase in loans to self-employed individuals. According to media reports, the loans cover entities with a total credit exposure of up to ₹50 crore, as well as self-employed individuals. Notably, loans to self-employed individuals have surged by 28.9%, reaching ₹35.7 trillion, while loans to MSME entities saw more modest growth of 6.6%, standing at ₹28.4 trillion. In FY24, approximately 27.4 million MSME loans were sanctioned, amounting to ₹54.2 trillion, marking a 19.3% increase in the number of loans and a 5.4% rise in value. Additionally, individual MSMEs recorded a 12.6% year-on-year growth in loan originations. The portfolio quality of individual MSMEs showed improvement, with the portfolio at risk (Par) for 31 to 90 days dropping to 2.7% by March 2024, down from 3% the previous year. However, the MSME entity segment reported a slight decline in portfolio quality, with the Par increasing to 2.5% in March 2024, compared to 2.1% in the same period last year. The microfinance loan portfolio also expanded during FY24, growing to ₹4.4 trillion with a robust 26.8% growth. The volume of originations saw a 6% increase, with 83.5 million loans sanctioned during the year. This overall growth in the MSME loan portfolio reflects the increasing demand for credit in India’s MSME sector, particularly among self-employed individuals, who are leveraging loans to expand their businesses and support entrepreneurial ventures. Disclaimer: The information provided in this article is based on news updates and reports gathered from various internet sources. While every effort has been made to ensure the accuracy and reliability of the information, we encourage readers to verify the details independently before making any decisions. Popular Articles Msme News Covid Period Credit Guarantee Scheme Helped MSMEs Achieve Higher Net Profit Margins: RBI Study Msme News MSME Priority Lending Surges to ₹26 Lakh Crore in September: RBI Data Msme News AI for MSMEs: Bridging the Gap Between Technology and Business Goals Msme News Khadi & Village Industries Yojna (KVIC):Rural India with Tradition and Enterprise Msme News Government Extends Interest Equalisation Scheme for MSME Exporters Until December 2024 IPO News Arkade Developers IPO Allotment: Key Details on Application Status, GMP, and Listing Date Msme News CII MSME FinFest 2024: Empowering MSMEs in Odisha with Better Access to Credit Msme News MSMEs Contribution to Economy Set to Rise to 40% by 2027: U Grow Report Msme News MSME Sampark x Build Bharat Expo 2025 – Transforming MSMEs, Shaping India’s Future Msme News 11 Years of Jan Dhan Yojana : Revolution in Financial Inclusion
Be the first to comment