Post News Network
Bhubaneswar, Nov 27: Advances to micro, small and medium enterprises (MSME) during the first half of this financial year has registered a growth of 9.64 per cent over the same period a year ago.
Notably, target set under Annual Credit Plan for MSME sector for the year 2015-16 is Rs 12003.29 crore. “The achievement up to September 30, 2015 is Rs 4,424.24 crore which is 36.86 per cent of the target,” a report by State Level Bankers’ Committee said.
In the recently held SLBC meeting, banks have been requested to achieve more than 75 per cent of the target by the end of December, 2015.
Giving an account of the loan disbursed, the report said Rs 796.37 crore have been disbursed to micro enterprises under the manufacturing sector.
Similarly, Rs 374.53 crore has been disbursed to small enterprises. Medium enterprises have been disbursed Rs 169.19 crore during the first half of the current financial year.
As per the report, allocation to micro Sector of MSE advance at end of September 2015 was at 54.73 per cent against the mandate of 60 per cent. Meanwhile, banks have achieved 10.20 per cent finance under micro enterprises category.
During SLBC meeting, banks had been asked to detect distressed MSMEs early and address the issue of rehabilitation of MSMEs as per guidelines of RBI.