Uttar Pradesh government says 42,700 crore loan was made to around 13 million MSMEs in FY21

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About 14 percent of the country’s micro-small and medium-sized enterprises (MSMEs) are operational in Uttar Pradesh.

PTI | , Lucknow

POSTED FEBRUARY 27, 2021 6:56 PM IST

Up to 13 lakh MSME units in Uttar Pradesh have received loans worth ??42,700 crore in fiscal year 2020-21, the state government said on Saturday.

It is also for the first time in the history of the state that such a large amount of loan has been granted to the MSME sector in one year. It has also generated 65 lakh of direct and indirect employment opportunities in the private sector, an official statement released here said on Saturday. About 14% of the country’s micro-small and medium-sized enterprises (MSMEs) are operational in Uttar Pradesh, the statement noted.

Navneet Sehgal, Additional Chief Secretary, MSME, recently reviewed the Steering Subcommittee of the State Level Bankers Committee (SLBC) and gave instructions for the swift disposal of pending applications for acceptance and clearance. distribution at the bank level under various government programs, including the Prime Minister. Job Creation Program (PMEGP), ODOP, Mukhyamantri Yuva Swarojgar Yojana (MYSY), according to the statement.

Instructions have also been given to take necessary action for resolution of bank related cases on the MSME Sathi app. About 41.16 percent of bank accounts were covered by Pradhan Mantri Suraksha Bima Yojana (PMSBY) compared to total Jan Dhan accounts in UP. “The program of the state government a Gram Panchayat, a correspondent bank has started under which the process of appointing 58,000 correspondent bank (BC) Sakhi is underway,” said Brajesh Kumar Singh, chairman of SLBC .

During the review meeting, Amil Agarwal, Undersecretary at the Union Ministry of Finance, also suggested to the banks and NABARD to take the necessary steps to reach the projects and potential entrepreneurs for the use of the agricultural infrastructure fund.

“NBFCs should also be included in SLBC meetings from time to time so that they can share their suggestions and progress,” Agarwal said.

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