Categories: Business

Banks sanction loans of Rs 1.38 lakh crore for MSME, allocation of more than Rs 92 thousand crore has been done

Banks sanction Rs 1.38 lakh crore loans to MSMEs under credit guarantee scheme

new Delhi. Approved loan of Rs 1.38 lakh crore to micro, small and medium enterprises (MSMEs) most affected by the corona virus epidemic till August 3 under the 100% Emergency Credit Line Guarantee Scheme by the country's public sector banks as well as private banks has gone. This information came from a tweet made by the office of Finance Minister Nirmala Sitharaman.

Under the Emergency Credit Line Guarantee Scheme (ECLGS), the government wants to ensure the solution of the cash problem of the MSME sector on a priority basis. Out of the total loan sanctioned by banks under ECLGS, Rs 92,090.24 crore has been allocated. There has been a big boom in loan approvals during the last 18-20 days, when it has increased by about Rs 15,000 crore and there has been an increase of about Rs 25,000 crore in loan disbursement.

The Finance Minister's office said in a tweet that the loan sanctioned by PSBs and private banks under the 100% Emergency Credit Line Guarantee Scheme till August 3, 2020 is Rs 1,37,586.54 crore, of which Rs 92,090.24 crore has already been disbursed. Huh.

A loan of Rs 72,820.26 crore has been approved by public sector banks, out of which Rs 52,013.73 crore has been disbursed. Similarly, Rs 64,766.28 crore has been approved by private banks, out of which Rs 40,076.52 crore has been disbursed.

ECLGS is the largest financial component among the schemes announced by the Finance Minister in the Rs 20 lakh crore package announced under the Self-Reliant India Campaign. As part of the self-sufficient package, the government has announced a plan to provide additional loan of Rs 3 lakh crore for MSMEs and small businesses.

This post was published on August 5, 2020 3:48 pm

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