Ministry of Finance noted in a latest update that under the 100 % Emergency Credit Line Guarantee Scheme (ECLGS) backed by a Government guarantee ,banks from Public & Private Sectors have sanctioned loans worth over Rs. 1 lakh crore as of June 26, 2020, of which more than Rs 45,000 crore has already been disbursed. This would help more than 30 lakh units of MSMEs & other businesses restart their businesses post the lockdown.
PSBs have sanctioned loans of Rs 57,525.47 crore whereas Private Sector Banks have sanctioned loans of Rs 44,335.52 crore under ECLGS. The top lenders under the Scheme are SBI , Bank of Baroda, PNB, Canara Bank & HDFC. As part of the Aatmanirbhar package Government had announced its plans for Rs. 3 lakh Crore as additional credit to MSMEs and small businesses. Such enterprises were to be eligible to receive upto 20% of their existing borrowing as additional loans at interest rates which were capped.
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