Categories: Business

PSU Bank sanction loan worth 6 lakh cr during lockdown

Photo: FILE PHOTO

Finance Minister

new Delhi. Public sector banks loaned Rs 5.95 lakh crore for the last two months for various sectors including MSME (micro, small and medium enterprises), retail, agriculture and corporate affected due to the corona virus epidemic and the ongoing lockdown for its prevention. Approved. At the same time, non-banking financial companies were financed from these banks from March 1 to May 8, worth Rs 1.18 lakh crore.

Finance Minister Nirmala Sitharaman tweeted on Tuesday, "Public sector banks (PSBs) approved loan of Rs 5.85 lakh crore to 46.74 lakh account holders in MSME, retail, agriculture and corporate sector from March 1 to May 8, 2020. . While Rs 1.18 lakh crore was made available to NBFCs during this period.

With the 'lockdown' commencing from 25 March in the country, PSB introduced a 10 percent additional loan facility based on the working capital limit. Under this, the maximum limit was fixed at Rs 200 crore. In another tweet, Sitharaman said, "From March 20 to May 8, PSB approached 97 percent of the eligible borrowers for the emergency loan facility and the increased working capital limit and they were given loans of Rs 65,879 crore.

This post was published on May 13, 2020 2:22 am

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