Bhubaneswar, Feb 18 (KNN) The Odisha Government has asked the state commercial banks to speed up the sanctioning and disbursement of assistances against the eligible pending loan applications of Micro Small and Medium Enterprise (MSME) units by the end of February 2019.

With regard to this, Additional Chief Secretary, MSME Department, LN Gupta issued an instruction to the bankers at a sub-committee meeting of the State Level Bankers’ Committee (SLBC) on MSME held here.

It was also revealed that Prime Minister Employment Guarantee Program (PMEGP) assistance of Rs 51.88 crore has been disbursed during the FY 2018-19 till February 15, 2019 for promotion of 2,079 MSME units.

Besides, the Khadi and Village Industries Commission (KVIC) Director informed that those applicants, who have repaid the first loan under the PMEGP and are ready to provide 10 per cent contribution, can avail the second loan for expansion and up-gradation of their projects up to Rs 1 crore. The maximum subsidy on the second loan would be Rs 15 lakh.

During the review, SLBC Convener PKC Dash from the UCO Bank informed that 469 branches of various commercial and Gramya Banks have been declared as specialised MSME bank branches to cater to the requirements of MSMEs in the State.

The representative of SIDBI informed that MUDRA loans of Rs 1,152 crore sanctioned to 62,077 loan beneficiaries have been covered under Credit Guarantee Fund for Micro Units (CGFMU). (KNN/YV)