Credit offtake to industry stays robust in June 2022, shows data

Bankers said the rise in credit offtake now is partly driven by expansion in economic activity

The pace of credit offtake continued to be robust in June, with sectors clocking year-on-year (YoY) growth between 9.5 per cent and 18.1 per cent. Reserve Bank of India (RBI) data showed that credit to industry grew 9.5 per cent in June 2022 (against a contraction of 0.6 per cent in June 2021).

Size-wise, credit to medium industries grew 47.6 per cent YoY in June against 59 per cent in the same month last year. The credit growth to micro and small industries rose to 29.6 per cent from 11.6 per cent a year ago.

The large industries segment saw