Three, four, or five businesses have captured India’s banking money; ordinary entrepreneurs cannot obtain loans.

“Three, four, or five businesses have captured India’s banking money; ordinary entrepreneurs cannot obtain loans.”Rahul Gandhi, Chhatron Ki Goonj rally, Dehradun, 17 July 2026

Rated False

The facts

1. Scheduled Commercial Banks’ total outstanding credit reached ₹212.9 lakh crore in March 2026, increasing by ₹29.2 lakh crore in one year. Credit expansion was broad-based across agriculture, micro and small industries, medium enterprises, services and households, not confined to a few companies.49
2. Banking credit is not captured by five businesses: ₹212.9 lakh crore is deployed economy-wide, with micro and small-industry credit growing 33.1%.
3. By March 2026, PM MUDRA Yojana had recorded over 57 crore loan accounts involving ₹40.07 lakh crore, including more than 12 crore accounts belonging to new entrepreneurs.50
4. India had more than 2.4 lakh recognised startups, creating over 23.36 lakh jobs, by 2025.51
5. Stand-Up India sanctioned 2.75 lakh loans worth ₹62,790 crore to women and SC/ST entrepreneurs for greenfield enterprises by March 2025.52
6. Formal credit replaces dependence on informal lenders, helping micro-enterprises invest, formalise transactions and progressively build usable credit histories.
7. Rahul Gandhi might be talking about situation during UPA.

Sources

• 49pib.gov.in
• 50pib.gov.in
• 51pib.gov.in
• 52pib.gov.in

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