LUCKNOW: Ruby Fatima (32), a Faizullaganj-based small scale entrepreneur, is completely satisfied that she has lastly been in a position to make her mark after a protracted battle of 17 years.
Ruby, who runs a chikan embroidery startup, RF Creation, with at the very least two dozen staff, says her unit now fetches a turnover of Rs 1.5 lakh per thirty days which was once her annual earnings earlier than coronavirus pandemic.
Crediting the success of her startup to straightforward loan entry offered to her by the federal government, Ruby stated, “There was a time when I was struggling to survive and expansion was the only solution. Fortunately, I came across the advertisement of state government’s one district, one product (ODOP) scheme and contacted the office of district commissioner of industries (DCI) last July after lockdown. The team helped me secure a bank loan and further guided me to expand my business.”
Similarly, three inside designers – Ruchi Srivastava, her cousin Ritu Vaish and Akhilesh Tiwari of Kalyanpur -started a joint spice manufacturing and packaging unit after lockdown.
The model, Swaad Bhog, presently employs at the very least 10 folks. “All this became possible due to easy loan sanctioned to us under the CM Yuva Swarozgar Yojana. Local authorities and bank guided us in our endeavour,” stated Ruchi (37), co-owner of Chinhat-based Shree Industries.
Like RF Creation and Swaad Bhog, there are numerous small scale startups in Lucknow which have been offered loan price Rs 5,103 crore, towards the goal of Rs 2,215 crore, by the consortium of 30 banks and their 957 branches in monetary 12 months 2020-21.
Talking to TOI, the lead financial institution supervisor of Lucknow district, Vinod Mishra, stated: “A total of Rs 8,538 crore against the target of Rs 10,663 crore, was given as loan under various categories to revive the local economy of Lucknow after lockdown. The two stakeholders, bank consortium and the state administration, had a long discussion after which a roadmap was prepared and an understanding was developed to pump in capital in priority sectors, especially small and medium scale industries, so that employment can be generated and economy can be brought back on track again.”
Nearly 75% of the overall loan to MSMEs (Rs 3,779 crore) was given by 13 public sector banks, whereas remaining Rs 1,323 crore was offered by 15 non-public banks.
Under MSME class, loans got to chikan and zardozi embroidery startups, packaging, printing, meals processing, furnishings, rice and wheat mills, iron craft and plumbing.
Deputy commissioner of industries, Lucknow, Manoj Chaurasia stated, “The entrepreneurs were provided 15-35% discount on loans under Pradhan Mantri Rozgar Srijan Yojana (Prime Minister Employment Generation Programme-PMEGP), Mukhya Mantri Yuva Swarozgar Yojana (MMYSY) and ODOP. Our team coordinated with entrepreneurs and banks to ensure easy access to loans. We further promoted small businesses by sending them to fairs to let them understand the market and inculcate new business trends. For Delhi hunar haat, we bore up to 75% expenses of entrepreneurs which included goods transportation, stall fee, food and hotel stay.”
“In 2020-21 financial year, our department helped 276 MSMEs to grow their businesses,” he added.
Apart from MSME, banks gave roughly Rs 804 crore for agriculture towards the goal of Rs 2,406 crore and Rs 381 crore for crop loan towards the goal of Rs 789 crore.
For different precedence sectors like schooling, housing and loan for renewable vitality, banks supplied Rs 1,007 crore towards the goal of Rs 2,832 crore.