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Under CM’s guidance Gujarat’s MSME units get Rs. 2428-Cr bank loans in just 15-day time

    As a result of multi-faceted planning chalked out by Chief Minister Mr. Vijaybhai Rupani to revive the MSME units in Gujarat from the adverse situation emerging out due to pandemic of COVID-19, nearly 88,000 MSME units have got clearances of loans in a record 15-day time from nationalised banks.

    This was made possible by the Chief Minister through arranging a video conference between leading business men, including those of MSME units, and officials of nationalised banks on last May 30. The video conference has turned out to be fruitful for the MSME units as the banks have distributed Rs. 2428.19-crore as the loans in just 15-day time. This was disclosed today by Mr. M. K. Das, Principal Secretary to the Chief Minister and Principal Secretary (Industries).

    During the video conference, the Chief Minister had urged the banks to clear the loans by adopting a sensible approach towards over 33-lakh MSME units of Gujarat as they are providing employment to over 1.5 crore people. In this reference, the banks have cleared the loans of Rs. 5373-Cr for 87,834 MSME units. Of these, the banks have already distributed Rs. 2428-crore worth loans to approximately 31,000 MSME units, Mr. Das further stated and added that Bank of Baroda, State Bank of India and Union Bank of India  have cleared 33,141, 18,074 and 15,866 loan applications, respectively. For these bank loans assistance as many as 89,767 applications were received from the MSME units. Of them, 87,834 applications (nearly 97%) were cleared within just 15-day.

    The distribution of bank loans worth Rs. 2428-crore for MSME units had covered 33 districts of Gujarat. Of them, the highest amount of Rs. 569.21-crore was distributed in Ahmedabad district, followed by Rs. 369.59 crore in Surat and Rs. 240.45-crore in Vadodara. Under the guidance of the Chief Minister, for the prompt clearance and follow-up of loans, a committee headed by District Collector was formed in each district. The other members of the committee included officer of District Industry Centre, Lead Bank Officer, and officials of Chamber of Commerce and MSME units.

    It should be noted here that the coordination and monitoring of the entire loan process is being done transparently under the guidance of Mr. Das by MSME Commissionerate and using single window system.

    Mr. Das exhorted that these loan assistances would give much needed boost to MSME units in prevalent adverse scenario of COVID-19.

    Source: Information Department, Gujarat