West Bengal Witnesses Rising MSME Lending by 5.74%

West Bengal MSMEs have witnessed increased lending in the current fiscal as compared to last fiscal.

Lending surged 5.74% in the first six months, amounting to Rs 46,000 crore until September 2021, helping entrepreneurs grow their businesses. The state government’s intervention to enhance lending and the several meetings held by the MSME department senior officers with the State Level Bankers’ Committee (SLBC) could be said to have contributed to the growth.

West Bengal witnessed approximately Rs 87,000 crore and Rs 70,000 crore being lent to MSMEs in 2020-21 and 2019-20 respectively. A senior state government official claimed that based on the current trend, lending could cross Rs 1 lakh crore mark in this fiscal. To promote this further, the state MSME and Textile department is organizing ‘Silpa Sahitya Synergy’ across 11 districts and have also launched an online portal to assist entrepreneurs.