India’s micro, small and medium exposure (MSMEx) loan book grew 17.8% year-on-year to ₹43.3 lakh crore in September 2025, while overall portfolio quality improved, according to CRIF High Mark’s latest MSMEx Spotlight Report.

Exposure levels remained broadly stable quarter-on-quarter.

Active loan accounts rose 5.7% year-on-year to 192.9 lakh. The report notes that credit expansion continues to be led by higher average ticket sizes rather than a large increase in borrower numbers.

Small enterprises increased their share of total exposure from 38.4% to 39.5% over the past year. Medium enterprises grew from 22.5% to 23.1%. Micro enterprises continued to dominate in loan count but saw limited movement in overall exposure during the quarter.

Public sector banks held 36.3% of micro-enterprise

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