Collateral free loan sanctioned for 28,654 State MSMEs

Industries in Assam contribute 39% to the State GDP and provide direct employment

to approximately 4 lakh people and indirect employment to around 20 lakh people

Atmanirbhar Bharat Abhiyan

GUWAHATI: Collateral free loan for 28,654 Micro, Small and Medium Enterprises (MSMEs) worth Rs 738.44 crore has been sanctioned in Assam under the Atmanirbhar Bharat Abhiyan.

It has been achieved due to the coordinated efforts being made by the Industries and Commerce Department for providing the necessary handholding between industries and financial institutions.

The Atmanirbhar Bharat Abhiyan package includes collateral free loan for small and medium enterprises of Rs. 3 lakh crore without any additional processing fee. The package is a major step to benefit manufacturers, entrepreneurs or youths associated with start-ups.

To put the economy back on track post COVID-19 induced national lockdown, Chief Minister Sarbananda Sonowal had interacted with the banking fraternity and had urged the public and private sector banks of the State to maximize credit flow to MSMEs. In this regard, the Chief Minister had also interacted with representatives of Central and State government PSUs, industry and tea associations and other trade bodies. The Chief Minister further asked Industries and Commerce Minister Chandra Mohan Patowary to take adequate measures to ensure that Assam may play its expected role in realizing the vision of Prime Minister's Atmanirbhar Bharat Abhiyan, a press release said.

It may be mentioned that through video conference, Minister Patowary had directed all the General Managers of District Industries and Commerce Centres to personally visit or call on the enterprises in their districts to address their issues, create awareness of the Atmanirbhar Bharat package and do necessary hand holding between the MSME units and banks so that the benefits can be availed by the MSME sector.

In a statement, Minister Patowary said, "The effort by general managers to link up the MSMEs with banks continues. The figure of sanctioned loan of Rs. 738.44 crore for 28,654 MSMEs speaks for itself that Assam's MSMEs have a good track of credit-deposit ratio and the status of their performance has been very encouraging. It is expected that more MSMEs will come forward to avail the scheme and boost the economy. All GMs of DICCs are directed to contact the bank officials and accelerate the sanctions under the stimulus package which is focused on supporting MSMEs in these tough COVID-19 times."

In view of the situation arising due to pandemic situation of COVID-19 and in order to boost the economy, the Prime Minister of India had announced the economic stimulus package Atmanirbhar BharatAbhiyan worth Rs. 20 lakh crore. Industries in Assam contribute 39% to the State GDP and provide direct employment to approximately 4 lakh people and indirect employment to around 20 lakh people. There are more than 66,000 industries in the State, out of which 99.9% industries are MSMEs, a press release said. 

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