Almost a month after the state government launched the Aatmanirbhar Gujarat Sahay Yojana, collateral-free loans have been sanctioned to 1,677 applicants, 71 percent of whom are clubbed in the three districts of Surat, Ahmedabad and Mehsana.
“So far, 1.677 applications have passed the scrutiny and the total amount sanctioned is Rs 14.94 crore. Although we have given time to cooperative banks and credit societies, we are constantly monitoring the situation and have asked them to speed up,” said Manish Bharadwaj, Secretary (Animal Husbandry, Fisheries and Cooperation), told The Indian Express.
The scheme was launched on May 21 for small entrepreneurs and the self-employed whose incomes were adversely affected by the Covid-19 lockdown. The Gujarat government had initially targeted to provide Rs 5,000 crore to 10 lakh beneficiaries under this scheme by November. It had roped in 260 urban cooperative banks, 18 district cooperative banks and 6,500 credit cooperative societies for this purpose.
Of the total 1,677 loans sanctioned so far, over 42 percent (719 loans) are in Surat alone. In addition to this, 310 loans have been cleared in Ahmedabad and 161 loans in Mehsana district. Rajkot and Gandhinagar also saw 118 and 115 loans, respectively, being sanctioned during the last month.
Banks and credit societies will continue to accept applications for such loans till August 31 and lending agencies have to complete disbursements by November 15, 2020.
When asked why the loans have been sanctioned in only 22 of the 33 districts so far, Bharadwaj said that districts like Jamnagar also covered smaller districts like Devbhoomi Dwarka, while banks were still scrutinising application forms in districts such as Sabarkantha, Panchmahal and Bharuch.
Among the lending agencies in Gujarat, Varachha Cooperative Bank Limited in Surat has sanctioned the maximum number of loans under this scheme. A total of 689 loans worth Rs 5.73 crore, sanctioned by the bank, account for 96 percent of the loans sanctioned in Surat district.
“We have given the maximum loans to diamond workers and women who do value addition for textile markets in Surat. These two sectors have been badly hit for the last three months and workers have suffered severe loss of income,” said Kanjibhai R Bhalala, Chairman of Varachha Cooperative Bank. He added that loans ranging between Rs 50,000 and Rs 1 lakh have also been given to rickshaw owners, saloons, shops selling cold drinks, decorators, among others.
“We are asking for only one guarantor if the applicant has his or her own property. For people living in rented accommodation, two guarantors need to be produced,” Bhalala added. He said the applicants are made nominal members of the banks before they are given loans.
Ahmedabad District Cooperative Bank has also sanctioned 237 loans worth Rs 1.98 crore. Additionally, Gujarat State Cooperative Bank and Mehsana Urban Cooperative Bank also sanctioned 151 and 103 loans, respectively, during this one month period.
While announcing a Rs 14,000-crore relief package for the state on June 4, Chief Minister Vijay Rupani had announced to launch a second phase of this scheme where loans between Rs 1 and Rs 2.5 lakh will be given by cooperative banks.
MSMEs given loan of over Rs 2,400 cr in 15 days: CM
Ahmedabad: Loan of over Rs 2,400 crore was given to the MSME sector by various national banks in the past 15 days, said Chief Minister Vijay Rupani on Tuesday. The loans have been disbursed to 87,834 MSME units, he said.
A total of 89,767 MSME units had applied for the loans and 97 per cent of the applications have been cleared, the state government stated in an official release.
The loans were passed during the last fortnight after the chief minister held a meeting with the banks on May 30. Bank of Baroda, State Bank of India and Union Bank of India have cleared the maximum loans. MSMEs in Ahmedabad received Rs 569 cr, while those in Surat and Vadodara received Rs 369 crore and Rs 240 crore respectively. ENS
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