Categories: Business

PNB sanctions loans to about 3 lakh MSMEs under credit guarantee scheme. PNB approves loans to nearly three lakh MSMEs under the Credit Guarantee Scheme

Photo: PTI (FILE)

PNB sanctions loans to about 3 lakh MSMEs under credit guarantee scheme

New Delhi. Public sector Punjab National Bank (PNB) has so far released nearly three lakh accounts under the Rs 3 lakh crore emergency loan guarantee scheme for micro, small and medium enterprises (MSMEs) struggling with economic difficulties due to Corona virus epidemic. The loan is approved. A senior bank official informed about it on Saturday.

He said that the bank has approved loans worth Rs 6,757 crore to 2,96,753 MSME accounts under the Emergency Credit Guarantee Scheme till June 25. Of this, Rs 2,030 crore has been disbursed to 59,204 accounts.

The bank said in a tweet, "There are more than 6.33 crore MSMEs in India and their number is continuously increasing. PNB offers many products to help MSME entrepreneurs and their businesses. "Meanwhile, Uday Kotak, president of banking sector-based business and industry organization CII, readiness to lend to MSMEs under the Emergency Credit Guarantee Scheme. Public sector banks appreciated on Saturday.

He said that the private sector banks will also soon start matching the public sector banks. It is noteworthy that the scheme was announced last month by Finance Minister Nirmala Sitharaman under the Rs 20 lakh crore self-sufficient India package.

This post was published on June 28, 2020 12:35 am

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