As per a recent report by the state-level bankers committee MSMEs were disbursed loans of over Rs 67K crores in FY 23 which was 135% over their mandated target.

In the details accessed by Vizag Industrial Scan an allotment target of Rs 50,100 crores was set for MSMEs for FY 23 against which a total of Rs 67822 crores was disbursed.

As per the report Micro enterprises were allocated the highest at Rs 36215 crores, small enterprises Rs 20384 crores, and medium enterprises were given Rs 11222 crores.

The top 3 banks that lent to the MSME sector included Union Bank of India at 19% followed by SBI at 16% and Canara Bank at 8%.

Similarly, the top 3 districts for MSME allocation were Vizag at 15% followed by NTR district at 11% and Guntur at 11%.