Rs 1462 Cr Distributed Under ECLG Scheme Among Odisha Based MSMEs

Banks have disbursed loans to Micro, Small and Medium Enterprises (MSMEs) in Odisha worth Rs 1,462 crore under Emergency Credit Line Guarantee (ECLG) scheme during this pandemic, said an official.

In a webinar, Wednesday, DG of PIB India Rajesh Malhotra said, “As on August 3, 2020, under 100 per cent ECLG scheme, PSBs have sanctioned Rs 2,105 crore of which Rs 1,462 crore has been disbursed to MSMEs in Odisha.”

He further stated that both public and private sector banks have sanctioned Rs 1,37,586 crore under ECLG scheme to MSMEs across the country.

''In total, public and private banks have disbursed around Rs 92,000 crore, out of which Rs 50,000 crore is dispatched to MSMEs by public sector banks across the country,'' he added.

Meanwhile, Director in-charge of MSME development Institute, SK Sahoo, claimed that financial institutions are not proactive in disbursing loans under the scheme.

“About 1.50 lakh MSME accounts have been sanctioned for the loan but only 71,031 accounts have been disbursed loans in Odisha. The disbursement rate is only 47.28 per cent in the state while in the country it is 57.12 per cent,” Sahoo said urging for a speedy disbursement.

In a bid to ensure speedy disbursements, MSME-DI has taken the matter to the State Level Bankers' Committee (SLBC) and Reserve Bank of India (RBI).

In this regard, the state government is inspecting and consulting with the banks to be active in lending loans under the ‘Atmanirbhar’ scheme.