Port Blair, Feb.11: The UT Administration of Andaman & Nicobar Islands is implementing a Credit Linked subsidy oriented self-employment scheme called Prime Minister’s Employment Generation Programme (PMEGP scheme) for generation of employment opportunities through establishment of micro enterprises in rural as well as urban areas of the territory under the aegis of the Ministry of MSME, GoI and Khadi & Village Industries Commission, Mumbai. Review of performance of individual bank branches were done, which resulted in a considerable progress under the scheme from sanctioning of 63 units as on 22nd January, 2020 to 97 units till date, which is more than 30 units in a fortnight.
The Secretary (Ind.), A&N Administration appreciated the State Bank of India for their improved performance in consideration of majority of the projects and viewed that the Administration has lot of expectations from the said bank regarding consideration of more number of units during the remaining period of the current financial year being the major banking institution and Lead bank. Further, National Institute for Entrepreneurship Ship & Small Business Development (NIESBUD), Noida, an external agency as identified by the Ministry of MSME has submitted the 100% physical verification report for the PMEGP units financed in A&N Islands during the year 2014-15 and 2015-16 during the month of February 2020 and the State Level Monitoring & Task Force Committee vide its meeting held on 11/02/2020 has accepted the recommendations of the said agency for issue of margin money / subsidy adjustment letter to banks. This would help clear long pending back log and facilitate banks to expedite loans.
