BHUBANESWAR: Commercial banks operating in the state have extended credit support of Rs 7,863.64 crore to over 2.75 lakh women self help groups (WSHGs) till the end of December 2022.The state government has fixed the annual credit linkage target of Rs 8,750 crore to 3.5 lakh SHGs for the current financial year. Of this target, 2,62,836 SHGs have been credit linked with an amount of Rs 7,863.64 crore, which accounts for 79 per cent of physical target and 90 per cent financial target.
During the same period last year, over 2.62 lakh women SHGs were provided Rs 5,635.30 crore credit as against the state government target to extend credit of Rs 6,002.52 crore to 2,80,150 SHGs.According to the latest report of the State Level Bankers Committee (SLBC), as many as 75,582 loan applications were pending at the bank-level for sanction and disbursement till the end of December, 2022.
Principal secretary Finance, Vishal Dev requested the banks for speedy disposal of the pending applications. He further advised the banks to increase the ticket size of SHG loan per SHG to Rs 4 lakh.
The average loan size for WSHG has been increased to Rs 2.85 lakh as on December 31, 2022 from Rs 2.70 lakh till September 30.
Meanwhile, the state government has increased the interest subvention benefit on SHG loans from Rs 3 lakh to Rs 5 lakh and making it interest free under Mission Shakti loan scheme on prompt and regular repayment of loans.