Banking business up 14pc in UP during pandemic

Lucknow, Jul 13 (FN Bureau) Uttar Pradesh Chief Minister Yogi Adityanath’s decision to impose partial curfew in the state instead of complete lockdown as witnessed in other states amid the ongoing coronavirus pandemic in order to ensure continuity of livelihood for the people has yielded positive outcomes for both the people of the state and its economy. Not only that the UP CM has succeeded in controlling the spread of the pandemic and managing it better than many other states with his proactive approach, but has seen to it that the welfare schemes remained uninterrupted and the State Government’s coffers continued to gain with an exemption of industrial activities under strict guidelines to guard against the deadly virus.

The Yogi Government allowed industrial and agricultural activities amid certain guidelines in place to protect those involved in it. As a result, there has been an increase of Rs 97,002 crore during the current financial year despite the pandemic, taking the total business of the state to Rs 19.37 lakh crore from Rs 16.91 lakh crore in March 2020. According to Brijesh Kumar Singh, coordinator of UP State Level Banking Committee (UPSLBC) here on Tuesday, the total deposits in the state during the quarter of March 2021, stood at Rs 12.77 lakh crore, up to Rs 59,345 crore as compared to Rs 12.17 lakh crore in December 2020. The Yogi Government has exceeded targets in several welfare schemes including among others Prime Minister Employment Generation Programme and Chief Minister Youth Self Employment Scheme. Besides, the Government gave away loans to the tune of Rs 27,875 crore to 47.38 lakh units under the Pradhan Mantri Mudra Yojana, achieving 99 per cent of the target in this regard.

The Yogi Government has also achieved 80 per cent of the Annual Credit Plan target in the current financial despite Covid. The Government granted a loan of Rs 1,96,932 crore as against the target of 2,46,751 crore. On June 23, CM Yogi had given a loan of Rs 2,505 crore to 31,542 new MSME units under the e-Swarozgar Sangam programme. Under the MSME sector in the state, a loan of Rs 73,765 crore has been given against the target of Rs 61,759 crore, registering an increase of 120 per cent. Digital transactions have shot up in Uttar Pradesh amid the pandemic and the subsequent lockdown. The total online transactions in the state were recorded at Rs 391 crore by the end of March 2021, against Rs 189 crore in March 2020, registering an increase of 106 per cent. Siddharthnagar and Firozabad have achieved total digitisation in the recent past.