"Under the Start-up and Stand up India slogan, each bank has to encourage at least one Scheduled Tribe or Scheduled Caste and one woman entrepreneur and considering the fact that in our state there more than 4000 bank branches, it gives enough scope to promote at least 8000 enterprises belonging to their category", Panchanan Dash wrote to the General manger UCO Bank and Convenor SLBC, Odisha.
Prime Minister Narendra Modi on 69th Independence Day had announced a new campaign "Start-up India, Stand up India" to promote bank financing for start-ups and offer incentives to boost entrepreneurship and job creation.
Similarly, under the Pradhan Mantri Mudra Yojana (PMMY), where each bank branch should give credit to around 25 business units, there is scope to add more than one lakh new enterprises each year taking into account the number of branches in the state.
The state government has also fixed a target to promote 60000 start ups mainly focusing on the manufacturing units.
"The General Manager, District Industries Centre have already been advised to be in touch with the Lead District Managers to facilitate the credit flow to the new units (start-ups). The chief secretary, Odisha, at regular intervals, is reviewing the credit flow to the start-ups", said Dash in the letter.
He requested SLBC to bring a separate agenda in SLBC on achievement under Start up India and Stand up India, PMMY and the target of start-ups fixed by the state government for review on SLBC.
The Odisha government has set a target to generate 0.4 million new jobs by promoting 0.15 million enterprises in the MSMEs (micro, small & medium enterprises) sector during 2015-19.
