4 lakh new borrowers go to formal lenders post demonetisation and GST

    Four lakh new borrowers have entered formal financial fold has risen post demonetisation and GST with small ticket size loans posting the fastest growth, a study by credit bureau Transunion -Cibil and Sidbi showed. Significantly small borrowers registering their businesses post GST too has seen a sharp rise, it said The number of new MSME- micro small and medium enterprises -borrowers entering the formal credit sector has risen from 2.7 lakhs for the six-month period from of January to June 2016 to 4 lakhs in the period between July to Dec 2017. Small ticket borrowings, loans upto Rs 10 lakhs has seen a highest growth, posting a 31% growth between December 2016 and December 2017 with about 34 lakh new firms registering for GST in the same period. Read More...

Copyright © 2016 bizaviser.in™. All Rights Reserved. Contents of this Portal should not be copied, stored in a retrieval system, or transmitted. In any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior return permission of the bizadviser.in.