Varanasi: Union Bank of India organised an outreach programme on Friday, during which cheques worth ₹515 crore were distributed to entrepreneurs. Sanction letters and cheques were also handed over to more than 300 customers.District magistrate Satyendra Kumar described the programme as a commendable initiative to support entrepreneurs and strengthen the MSME sector.Indian Industries Association national secretary Anupam Deva urged entrepreneurs to make maximum use of the scheme.Union Bank of India zonal head T Kameshwar Rao said loans worth ₹515 crore were disbursed in the district. He said MSME entrepreneurs are eligible for loans of up to 20% of the maximum working capital of the March 2026 quarter at concessional interest rates, with no processing charges, and a repayment tenure of five years. Under the scheme, entrepreneurs can avail loans of up to ₹100 crore.Nidhi Kumar, convener of SLBC, Lucknow, said the programme aimed to create greater awareness about the scheme and maximise its outreach.Representatives of NCGTC provided detailed information about the scheme, while the Jan Samarth team also participated in the event.Union Bank regional head Shailendra Kumar said the Emergency Credit Line Guarantee Scheme was introduced by the govt to help industries overcome working capital constraints arising from the West Asia crisis.Lead District Manager Avinash Agarwal highlighted the progress made by banks in the district, while Neeraj Ojha proposed the vote of thanks.Among those present were Sonika Rana of NABARD, Rajesh Chaudhary, assistant director, MSME, representatives of the Union finance ministry, Jan Samarth and NCGTC officials, zonal and regional heads of various banks, and more than 500 entrepreneurs.
