Odisha Govt asked banks to expedite sanction, disbursement of margin money assistance to pending PMEGP applicants

Bhubaneswar: In a review meeting held under the Chairmanship of Shri L.N. Gupta, IAS, Additional Chief Secretary, MSME today at the Office of the DEPM, the State Director, KVIC informed that during 2016-17, altogether, 2890 beneficiaries have been extended margin money assistance of approximately Rs.83 crores, which is 115% of the target assigned to the State Govt. These projects have resulted in employment generation to 20,392 persons.

As regards performance during the first six months of 2017-18, total 774 beneficiaries have been extended with margin money assistance of Rs.22.45 crores, which is more than 50% of the margin money assistance target assigned to the state. During the current year, the Govt. of India has allotted margin money of Rs.44.62 crore to the state. During the year, total 2250 beneficiaries are likely to be assisted.

The Additional Chief Secretary requested all the leading banks present in the meeting to expedite sanction and disbursement of margin money assistance to the pending PMEGP applicants with a special focus to the applicants belonging to the ST/SC/Women and Physically Handicapped category. He stated that separate allocation of Rs.946 lakhs to the SC applicants and Rs.1975 lakh for ST applicants is available for margin money assistance. He added that the bankers should achieve the current year’s target under PMEGP by the end of November, so that we can further ask the Govt. of India to enhance the target for the State.

Whereas, the performance of the Andhra Bank, Bank of India, Canara Bank and UCO Banks during the current financial year was found satisfactory, the performance of SBI, PNB, Union Bank of India, United Bank of India etc. was not found upto the mark. It was decided to convene a meeting of the SLBC Sub- Committee on MSME Sector sometime during the middle of October, 2017 to discuss the issue with the Regional heads of these banks.


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