Banks in Udupi district achieve 267% of target under PM Employment Generation Programme

Also, Udupi district stood first in Karnataka under the Prime Minister’s Street Vendor Atmanirbhar Nidhi (PM-SVANidhi) scheme.

Banks in Udupi district achieved remarkable feats under the Prime Minister’s Employment Generation Programme (PMEGP) by distributing 481 loans as against the target of 180, thereby achieving 267% of the target in 2022-23.

Sheeba Sehajan, Canara Bank’s Regional Manager in Udupi, informed the Udupi district-level Consultative Committee and District Level Review Committee during a meeting at the district office complex in Rajatadri, Manipal. Zilla Panchayat CEO H. Prasanna chaired the meeting.

Ms. Sehajan announced that Udupi district stood first in Karnataka under the Prime Minister’s Street Vendor Atmanirbhar Nidhi (PM-SVANidhi) scheme. She congratulated all the bankers and urban local bodies in the district for the achievement.

Banks in Udupi district have released 4,046 loans as against the target of 3,049. The flagship scheme of the government aims to make street vendors self-reliant, she said.

Mr. Prasanna directed the banks to immediately sanction loans for pending applicants under the PMSVANidhi and PMEGP.

Ms. Sehajan further said the banking business has grown to ₹52,253 crore, registering a net growth of ₹5,241 crore from the previous year (11.08%). Under banking credit, business saw 13.78% growth to ₹17,265 crore. Deposits grew by ₹2,092 crore, touching ₹35,258 crore (9.81%) during the period.

Under special focus programmes, banks have made total disbursement of ₹1,925.52 crore to weaker sections, ₹3,462 crore to women beneficiaries, and ₹27 crore under DRI Scheme, and ₹522 crore fresh credit disbursement under MUDRA.