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Bank disburse over 50000 crore loans to MSME under credit guarantee scheme

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Bank disburse over 50000 crore loans to MSME

new Delhi. The Finance Ministry said on Friday that banks and other financial institutions have disbursed loans worth Rs 52,255 crore to MSMEs under the Emergency Credit Facility Guarantee Scheme till July 1. Banks and other financial institutions have approved loans worth Rs 1.10 lakh crore so far under this scheme with 100 percent guarantee starting from June 1. Finance Minister Nirmala Sitharaman announced a Rs 20 lakh crore self-sufficient India package last month to support the economy affected by the corona virus epidemic. The biggest part of this package is the Rs. 3 lakh crore emergency loan facility guarantee scheme announced for micro, small and medium enterprises (MSMEs).

These figures released under the Emergency Credit Facility Guarantee Scheme include loans allocated and disbursed by 12 public banks, 20 private banks and nine non-banking financial institutions (NBFCs). The Finance Minister said in a tweet, "Public sector banks and private banks have approved a loan of Rs 1,10,348 crore under the 100 percent Emergency Credit Facility Guarantee Scheme by July 1, 2020. Out of this, disbursements of Rs 52,255 crore has gone." During this period, public sector banks have allocated loans worth Rs 63,235 crore and disbursed loans worth Rs 33,349 crore. So far, an allocation of Rs 47,108 crore and disbursement of Rs 18,906 crore has been made by private sector banks.

The Finance Minister said, "The data up to June 30 shows that there has been a sharp increase in the number of loans given to MSMEs and units benefiting under the scheme in a week." He said in another tweet, "Public sector banks have approved a loan of Rs 15,674 crore to 71 MSME hubs in 27 states and union territories under the 100 percent Emergency Credit Facility Guarantee Scheme till June 30. Of this, Rs 9,074 crore has been distributed. "

Based on the data as of June 30, the maximum allocation of Rs 1,910 crore has been made in the Ahmedabad region. After this, loans worth Rs 1,602 crore have been sanctioned in Surat region. The State Bank of India (SBI) has sanctioned loans worth Rs 20,281 crore till June 26, while disbursing loans of about Rs 12,855 crore. After this, Punjab National Bank (PNB) has approved a loan of Rs 7,957 till July 1 and disbursed a loan of Rs 2404 crore. Maharashtra topped the states with an allocation of Rs 6,578 crore and disbursement of Rs 3,310 crore by July 1. It is followed by Tamil Nadu where loans worth Rs 6,390 crore have been sanctioned by banks during this period, while loans worth Rs 3,695 crore have been disbursed.

This post was published on July 3, 2020 11:09 pm

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