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Credit to Small Businesses Since GST Grown Five Times, Says SBI
December 06, 2018
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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