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Credit to Small Businesses Since GST Grown Five Times, Says SBI
December 06, 2018
![Credit to Small Businesses Since GST Grown Five Times, Says SBI](https://new.ask.careers/wp-content/uploads/2018/12/5th-Dec-News-1-1024x768.jpg)
India’s largest lender State Bank of India (SBI) dismissed the concerns regarding credit supply to small businesses post Goods and Service Tax (GST) regime and called them a mere “myth”. It said that the MSE sector has observed a “stupendous” loan growth since July 2017 when the new tax regime was implemented.
Economists at SBI released a note recently which said that incremental credit to MSEs under priority sector lending has increased by 500% to ₹1.23 trillion against ₹257 trillion under the pre-GST period.
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