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About 14 per cent of the country's micro, small and medium enterprises (MSME) are operational in UP and as many as 13 lakh MSME units have been given loans worth Rs 42,700 crore in the 2020-21 financial year. This is for the first time in the history of the state that such a large amount of loan has been given to the MSME sector in a year.
This has also generated 65 lakh direct and indirect employment opportunities in the private sector.
Additional Chief Secretary (MSME) Navneet Sehgal recently reviewed the steering sub-committee of the State Level Bankers Committee (SLBC) and gave instructions for early disposal of pending applications for acceptance and distribution at the bank-level under various government schemes including Prime Minister Employment Generation Programme (PMEGP), ODOP Scheme, Mukhyamantri Yuva Swarojgar Yojana (MYSY).
Instructions have also been given to take necessary action for the disposal of the cases related to banks on the MSME Sathi app. About 41.16 per cent of bank accounts have been covered under the Pradhan Mantri Suraksha Bima Yojana (PMSBY) against the total Jan Dhan accounts in UP, according to the additional chief secretary.
"The state government's one gram panchayat, one bank correspondent' programme has started under which the process of appointment of 58,000 Bank Correspondent Sakhi is underway. In addition, a loan of over Rs 1.45 crore has been distributed under the annual loan scheme till the end of the current fiscal," SLBC convenor Brajesh Kumar Singh said.
In the review meeting, under-secretary in the Union Ministry of Finance, Amil Agarwal, suggested that the banks and the NABARD take necessary steps to reach out to potential projects and entrepreneurs for the use of agricultural infrastructure funds.