All banks have been dictated by the Government to quicken loan disbursals under the Prime Minister's Employment Generation Programme (PMEGP) so as to meet the goal of providing finance to more than 59,000 projects in this financial year.

"I request all the CMDs of banks to issue policy circulars to the financing branches to ensure fulfillment of the targets allocated," Minister of State for Micro, Small and Medium Enterprises Dinsha Patel said.

The ministry has set a target of implementing 59, 714 projects under PMEGP this year so as to provide employment to 5.97 lakh persons, Patel said.

However, he expressed concern on the fact that only 10% of the total target has been met so far when half the financial year has passed by.

Since its launch in 2008, the scheme has sanctioned about one lakh projects , providing jobs to about 10 lakh people.