UP government targetting MSME loans worth Rs 62,000 cr in 2019-20

So far, banks have logged MSME advances of Rs 40,000 crore

The Uttar Pradesh government is aiming to facilitate business loans worth more than Rs 62,000 crore to the beleaguered micro, small and medium enterprises (MSME) in the current financial year 2019-20.

The figure of Rs 62,000 crore is 20 per cent higher than the target of Rs 51,808 crore in MSME lending fixed for commercial banks in UP for 2019-20.

So far, the advances made by the commercial banks in the UP MSME sector are to the tune of Rs 40,750 crore, which is more than 78 per cent of the targetted figure of Rs 51,808 crore. In 2018-19, the