Categories: Business

under 100 percent ECLGS PSB sanctioned Rs 70894 crore

Photo: GOOGLE

PSB sanctioned Rs 70894 crore under ECLGS

new Delhi. The loan sanctioned by the public sector banks under the 100% Emergency Credit Line Guarantee Scheme under the Self-reliant India Package has crossed the Rs 70 thousand crore mark. Out of this, the largest loan has been approved by State Bank of India. At the same time, the businessmen of Maharashtra have benefited the most from the scheme. This information has been released today by the Ministry of Finance.

According to data released by the Finance Ministry, public sector banks have sanctioned a total loan of Rs 70894.59 crore. Out of this, a loan of Rs 45797 crore has been distributed till 20 July. About 33 lakh accounts have benefited from the disbursement of loans. State Bank of India has been at the forefront of loan disbursement. So far it has sanctioned a loan of about Rs 21 thousand crore, while it has also disbursed a loan of Rs 14,811 crore. At the same time, Punjab National Bank has approved a loan of Rs 9372 crore, out of which loan of Rs 5047 crore has been distributed. Among those who have disbursed more than Rs 5 thousand crore, Canara Bank has also distributed loans of Rs 5574 crore out of the approved loan of Rs 8242 crore till July 20.

On the other hand, Maharashtra has got the most benefit of the scheme so far. Out of the sanctioned loan of Rs 7358 crore, loans worth Rs 4786 crore have been distributed. On the other hand, Gujarat, Tamil Nadu and Uttar Pradesh are the states where the total sanctioned debt figure is more than 5 thousand crore rupees. Out of this, the debt disbursed in Tamil Nadu and Uttar Pradesh has crossed 45 hundred crores.

In May, the government announced a credit guarantee scheme to provide relief to small and medium traders from the Coron crisis. Under the scheme, MSME traders facing difficulties are being given additional amount on which 100% guarantee is covered. Due to the guarantee, banks are increasingly able to carry forward loans. The term of this loan is 4 years with an option of one year moratorium on principal. Rs 3 lakh crore is to be distributed under this scheme. The scheme will be applicable on the loan disbursed till 31 October.

This post was published on July 21, 2020 7:23 pm

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