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MSME Pulse

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MSME Pulse - May 2025 – Highlights

  • The MSME Pulse Report based on credit bureau data for the quarter ending March 2025 provides a comprehensive analysis of the current state of credit to Micro, Small and Medium Enterprises (MSME) Sector.
  • MSME Pulse Report aims to inform stakeholders and policymakers about the critical trends and developments shaping the MSME lending landscape.
  • Overall MSME commercial credit exposure increased to ₹35.2 lakh crore as of end-March 2025, against ₹31 lakh crore as of end-March 2024, a healthy growth of 13% YoY.
  • The demand for commercial credit, which is measured by the number of enquiries, grew 11% YoY in the quarter ending March 2025. Commercial credit supply (disbursements by value) grew 3% YoY in FY 2024-25. However, in the last quarter (Jan-Mar 2025) there was a decline of 11% YoY possibly due to higher credit concerns among lenders arising from increased external headwinds.
  • Overall 90 day plus delinquencies fell to 1.79%, the lowest in five years.
  • Share of New-to-Credit MSMEs to total new loan originations was strong at 47%.
  • Maharashtra, Gujarat, Tamil Nadu, Uttar Pradesh and Delhi continued to dominate commercial lending, together accounting for 48% of the value of overall originations in the quarter ending March 2025.
  • While the manufacturing sector had the greatest share of originations in Maharashtra, Gujarat, Tamil Nadu and Delhi, Uttar Pradesh had the most originations to the trade sector.
May, 2025
February, 2024
August, 2023
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