Page 27 - Banking Finance November 2017

PRESS RELEASE

"Mudra Promotion Campaign" (For West Bengal)

Organized by United Bank of India, Convener, State Level Bankers' Committee of West Bengal
service associated to agricultural activities do also qualify
for Mudra Loan. The scheme carries inherent credit
guarantee extended by National Credit Guarantee Trustee
Company Limited (NCGTC).
Digital India Campaign is the Governments' initiative to
promote paperless transactions using electronic medium like
mobile banking, net banking, AADHAR enabled transactions
and other app-based financial transactions.
Addressing the gathering, Sri, Pawan Bajaj, Chairman of the
SLBC-West Bengal told - "I am sure that with these sorts of
initiatives at the Central Government level from time to
time, the culture of entreprenurship will flourish and India
will further consolidate its position as the business hub in
Amidst much fanfare and a vast gathering of bankers, small the region. The success of the scheme will also empower
scale entrepreneurs and press & media, the nation-wide both financially as well as intellectually the rural youth and
Special Financial Inclusion Camp (FI Camp) and MUDRA
women."
Promotional Campaign were launched at the Science City
Auditorium by Sri. Pawan Bajaj, Chairman of the State Level However, while explaining the challenges faced by the
Banker's Committee (SLBC) for the State of West Bengal and banks and financial institutions in sanctioning loans under
Managing Director & CEO of United Bank of India, the SLBC the scheme, he pointed out that lack of credit history of
Convener Bank. The programme was organized by the SLBC these small borrowers and limited bureau services are
of West Bengal spearheaded by the Convener United Bank proving to be major handicaps. The other speakers also
emphasized on the importance of capital flow for the
of India. Smt. Anindita Sinha Ray, from the Ministry of
Finance, Sri. Ashok Kumar Pradhan, Sri. Charan Singh and business and timely repayment to the banks so that both
Sri. S. Harishankar, Executive Directors of United Bank of the loan givers as well takers flourish equally.
India, UCO Bank and Allahabad Bank respectively were The scheme is supposed to have met considerable success
present at the dazzling inaugural function. in the state as is evident from the announcement made by
Sri Bajaj - "I am happy to inform that in the last fiscal (2016-
At the initiative of the Central Government, for promotion
of the MUDRA Scheme and creating awareness among 17) all financial institutions together disbursed
Rs.15149.06cr. in the state of West Bengal, against an
people and to give fillip to the "Digital India" project to
annual target of Rs.7588.34cr. achieving 199.63%."
move towards paperless transaction environment, the banks
are organizing FI-camps at least at 50 (fifty) locations across The borrowers who have already availed MUDRA loans from
the country during the fortnight beginning 2nd October various banks shared their experience as to how they have
2017. The inaugural camp was organized on 2nd October, been able to start their ventures from the scratch and
2017 at Varanasi. expand their business with the aid of the loans from the
banks.
Micro Units Development and Refinance Agency Ltd.
(MUDRA) has been launched on 8th April, 2015 by Hon'ble Sanction letters were also distributed to the fresh loan
Prime Minister of India under Pradhan Mantri Mudra Yojna seekers through the hands of the dignitaries present on the
with the objective of extending refinance to the banks for dais.
lending to small and micro non-farm enterprises in In order to promote digital transactions, a demonstration
manufacturing, trading and services having credit was given on BHIM-UPI (Bharat Interface for Money -
requirements up to Rs.10lacs without any collateral. The Unified Payment Interface) and a live transaction was
overdraft amount of Rs.5000 and agri-allied activities like executed to establish the efficiency, convenience and speed
Animal Husbandry, Bee Keeping, Poultry, Dairy, and other of cashless transactions on the virtual platform.

BANKING FINANCE | NOVEMBER | 2017 | 27

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