FM holds review meeting on Rs 3 trillion credit guarantee scheme for MSMEs

The scheme is the biggest fiscal component of the Rs 20-million Self-Reliant India Mission package announced by Sitharaman last month

Finance Minister Nirmala Sitharaman on Tuesday held a review meeting on credit guarantee scheme with heads of public sector banks, and asked them to expedite loan disbursement under the Rs 3-million ECLGS for MSME sector, hit hard by the coronavirus-induced lockdown.

The meeting on Emergency Credit Line Guarantee Scheme (ECLGS) was held through a video conference, and the minister appreciated the efforts of banks in the execution of the scheme.

"Hon'ble FM @nsitharaman Ji complimented PSBs on rapid traction for achieving sanctions of Rs 20,000 cr under ECLGS. Also advised to maintain proactive outreach at branch level and keep Forms