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The banks having operations in the state have extended loans of Rs 783.83 crore to micro and small enterprises (MSEs) in 2014-15 under the Credit Guarantee Fund Trust for Micro and Small Enterprises(CGTMSE) scheme of the Centre.
As per the latest data, Rs 783.83 crore credit has been approved to 14,845 units in the state under the collateral free scheme. Cumulatively, Rs 3,832.14 crore has been sanctioned to 91,462 units.
Bank-wise analysis says that country's largest public sector bank, State Bank of India has sanctioned highest quantum of Rs 221.58 crore loan to 3,796 accounts followed by Bank of India with Rs 172.01crore loan to 2,802 MSE units.
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Odisha ranks eighth among all states in India in respect of MSME coverage under the CGTMSE. The district wise analysis reveals that Khurda district has the highest coverage followed by Cuttack. As many as 2,173 units were covered under the scheme in Khurda with total sanctioned amount at Rs 134.19 crore. Similarly, Rs 91.22 crore was advanced to Rs 1,356 units in Cuttack.
It may be noted that the state government is in the process of parking Rs 100 crore with the Centre for availing additional coverage under the CGMSE. Under the scheme, the guarantee cover available is restricted to credit of Rs 1 crore even though credit extended is more than Rs 1 crore to an eligible borrower. CGTMSE provides guarantee cover up to 75 per cent of the amount in default subject to a maximum of Rs 62.50 lakh
The extent of guarantee cover is 80 per cent with a maximum of Rs 65 lakh in cases of MSEs operated and owned by women and all loans sanctioned in the North East Region (NER). For micro enterprises, the extent of guarantee cover is 85 per cent for credit up to Rs 5 lakh.
