By Bizodisha Bureau, Bhubaneswar, December 27, 2019: The share of disbursement of credit by Small Finance Banks (SFBs) under Pradhan Mantri MUDRA Yojana in overall disbursements in Odisha is only 2.04 per cent, according to the State Level Bankers’ Committee (SLBC).

SFBs have opened 34,116 accounts under MUDRA as on September 30, 2019 and have disbursed Rs 135.83 crore of loans.

Odisha has total credit disbursement of Rs 6,492.03 crore under MUDRA from 1.67 million accounts. With 840,429 accounts, the private banks have disbursed Rs 2552.61 crore, contributing 39.32 per cent to total disbursements.

Next to private sector lenders, Micro Finance Institutions (MFIs) and Non-Banking Financial Institutions (NBFCs) combined have disbursed Rs 2146.89 crore, accounting for 33.07 per cent share in total credit offtake under the programme.

Under MUDRA programme, public sector banks have advanced Rs 1500.22 crore, grabbing 23,11 per cent share.

At the end of September, banks had achieved 52.61 per cent of the Annual Credit Plan (ACP) for 2019-20. In agriculture credit, the credit offtake is dismal as only 38.13 per cent of the envisaged target of Rs 41320 croe has been achieved. By contrast, credit disbursement to the MSMEs (micro, small & medium enterprises) is staggering with banks accomplishing 94.14 per cent of the target for this fiscal year. The total credit target for FY20 is pegged at Rs 75,611.97 crore.