Achieve 127% of their assigned target, Public sector banks lead the way in disbursals
The MSME sector in the state of Andhra Pradesh seems to have had a significant year of financing last fiscal year in terms of access to bank capital.
Of the total credit plan disbursal of Rs 610,336 crores an amount of Rs 87,428 crores was disbursed towards the MSME sector for FY24. This was done across a total units of 1716359.
In the recently held 227th state level banker’s committee (SLBC) meeting it was informed that all banks including PSBs, private sector, RRBs, cooperative banks and small finance banks lent a cumulative Rs 87,428 crores to MSMEs.
This marked a 28.91% increase compared to the same period last year in regards to the MSME sector. According to SLBC this also marked a 127% achievement of the targeted Rs 69,000 crores that the banks were set to lend to the MSME sector for FY24.
Of this the micro enterprises received the highest allocation at Rs 48,737 crores, small enterprises Rs 23,279 crores, medium enterprises Rs 15,188 crores while other received Rs 225 crores.
Similarly the total outstanding advances in the MSME sector for FY24 stood at an overall Rs 109,054 crores. Out of this the biggest outstanding advances were held by micro enterprises Rs 63,365 crores, small Rs 29,280 crores, medium Rs 15,876 crores and others 534 crores.
As expected public sector banks were once again the highest lenders to the MSME sector with an astounding 66% advances being made by the PSBs followed by the private sector banks with 22%, RRBs 7% and cooperative banks at 5%.
In terms of NPA the MSME sector witnessed NPAs amounting to Rs 6171 crores in regards to total outstanding.
Standup India
Under the standup India scheme banks lent Rs 13,342 crores wherein the top 3 lending banks were SBI at Rs 3966 crores, UBI at Rs 3727 crores, Canara Bank at Rs 1438 crores.
The Stand-Up India Scheme is to facilitate bank loans between Rs. 10 lakh and Rs. 1 crore to at least one SC/ST borrower and at least one Woman borrower per bank branch of all scheduled commercial banks for setting up a greenfield enterprise.
This enterprise can be in the manufacturing space, services, agri- allied activities or the trading sector.
Mudra Yojana
Under PM Mudra Yojana banks lent Rs 17,327 crores which was an achievement of 133% of the targeted amount.
Union bank topped in this vertical having lent a whopping Rs 3828 crores followed by Canara bank at Rs 2407 crores, SGB at Rs 1948 crores.
The Pradhan Mantri MUDRA Yojana (PMMY) is a scheme launched by the Prime Minister, Mr Narendra Modi on April 8, 2015 for providing loans up to 10 lakh to the non-corporate, non-farm small/micro enterprises.
