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November 25, 2019

Bank lending in MSME sector on the rise

Bank lending in MSME sector on the rise

The Mamata Banerjee government has laid special emphasis on cluster development across the state, to ensure that there is smooth lending in the MSME sector by the banks.

At present there are 531 MSME clusters in the state, up from 49 in 2011. State MSME Minister Dr Amit Mitra had set a target of Rs 70,000 crore bank lending to MSME sector in the State Level Banker’s Committee (SLBC) that he had chaired a few months ago.

It may be mentioned that in 2018-19, the MSME bank lending was to the tune of Rs 56,458 crore, which is the highest in the country. In 2017-18 the figure was Rs 44,049 crore, while in 2011-12 this amount was Rs 8,300 crore.

The MSME department, as part of its support to the clusters, arranges training for skill enhancement, supplies machines and other infrastructure through setting up of common facility centres and also creates infrastructure of marketing products manufactured by them.