Bhubaneswar: State Level Bankers Committee Odisha (SLBC) said that commercial banks have disbursed Rs 5193.47 crore to manufacturing Micro, Small and Medium Enterprises (MSME) in the first quarter of financial year 2019-20. The data was revealed at the 156th SLBC meeting Monday.
Elaborating on the details to beneficiaries, SLBC said that the disbursed amount has been doubled when compared year-on-year. “The amount has been disbursed to 27,997 accounts in current first quarter. Micro manufacturing enterprise received Rs 1144.79 crore, small firms got Rs 2734.27 and medium industries received loans of Rs 1317.41 crore,” said Atul Kumar Goel, MD-CEO, UCO Bank.
The banks had sanctioned Rs 2531.48 crore in Q1 of FY’19 and sanctioned the loans to 21,499 accounts. During the meeting, SLBC officials also raised the issue of rising number of non-performing assets (NPAs). The NPA percentage of the state is 6.57 and overdue percentage is 43.43 which is higher and is a cause for concern.
As a result, most banks are facing problems to recycle the funds owing to non repayment of loans. The committee then advised the banks to recover outstandings.
