Kolkata, Mar 9 (KNN) Bank credit disbursed to self-help groups (SHGs), predominantly managed by women, has surged significantly, growing 35 times over the span of 13 years under the governance of Chief Minister Mamata Banerjee, revealed Amit Mitra, Principal Chief Adviser to the CM.

Mitra made this announcement while presiding over a meeting of the State Level Bankers Committee (SLBC) in Kolkata on Friday, attended by State Finance Minister Chandrima Bhattacharya and the state finance secretary, along with over 100 bankers.

Highlighting the remarkable growth, Mitra disclosed that in the fiscal year 2011-2012, the number of SHGs with credit linkages stood at 93,400, with a total credit disbursed of Rs 553 crore.

Fast forward to the present, the number of SHGs with credit linkages has escalated to 8.2 lakh, with a staggering credit disbursal of Rs 19,901 crore recorded this fiscal year, up until February 26.

“The non-performing assets for SHGs here is less than 1.5 per cent and the repayment schedule is very good. The banks have also surpassed the target which was reaching 7.5 lakh SHG in this fiscal,” Mitra said.

Moreover, Mitra underscored the substantial growth in Micro, Small, and Medium Enterprises (MSME) credit during Banerjee's tenure. From Rs 8,387 crore in 2011-2012, MSME credit has surged to nearly Rs 1.4 lakh crore this fiscal year.

With a target of Rs 1.4 lakh crore, Mitra expressed confidence that it would likely touch Rs 1.5 lakh crore by the end of the fiscal year.

(KNN Bureau)