As of September 30, 2021, the Micro, Small, and Medium Enterprises (MSME) indebtedness publication for Uttar Pradesh stood astatine Rs 13,154 crore, HDFC Bank said successful a statement.
Country’s largest backstage assemblage lender HDFC Bank connected Friday said its MSME publication witnessed a 17 per cent year-on-year maturation to implicit Rs 13,000 crore arsenic of September-end successful Uttar Pradesh.
As of September 30, 2021, the Micro, Small, and Medium Enterprises (MSME) indebtedness publication for Uttar Pradesh stood astatine Rs 13,154 crore, HDFC Bank said successful a statement. The Mumbai-headquartered lender said it has offered loans to much than 66,000 MSMEs truthful far, successful the astir populous authorities successful the country. Under the ECLGS strategy of the government, HDFC Bank has disbursed advances to implicit 5,950 MSME units successful the state.
The Emergency Credit Line Guarantee Scheme (ECLGS) was introduced during the pandemic successful May 2020, to supply fiscal assistance to the companies deed by the pandemic, and envisaged to supply Rs 3 lakh crore worthy of unsecured loans to MSMEs and companies crossed the country. The ECLGS strategy had a September 2021 deadline.
HDFC Bank had started offering loans to MSMEs successful Uttar Pradesh successful 2004, and successful the past 17 years, it has fixed loans to 66,869 companies successful the state, the lender said.
These enterprises show the tone of entrepreneurship that forms the backbone of economical growth. HDFC Bank has truthful acold extended loans to MSME customers successful much than 500 cities and towns covering 75 districts successful the authorities of UP, it said. The slope has 537 branches successful the state.
“MSMEs are the backbone of the system and are amongst the largest occupation creators. We are arrogant to person been a spouse successful their maturation travel with our world-class products,” Shyamal Singh, Regional Head, Business Banking Uttar Pradesh, HDFC Bank, said. He said, benefiting from the conducive argumentation environment, the enterprising authorities of Uttar Pradesh presents opportunities for MSMEs and banks alike. “To conscionable these requirements, we volition grow to 30 much locations successful the authorities arsenic good arsenic summation our integer footprint,” helium added.
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