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PSBs lend Rs 19,668 cr to 71 MSME hubs under credit guarantee scheme

The scheme is the biggest fiscal component of the Rs 20-trillion Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman last month

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The main objective of the scheme is to provide an incentive to member lending institutions to increase access and enable availability of additional funding facility to MSME borrowers

Press Trust of India
The Finance Ministry on Friday said public sector banks have sanctioned Rs 19,668.87 crore to 71 MSME hubs across the country under the Rs 3-trillion Emergency Credit Line Guarantee Scheme (ECLGS).

Disbursement in these clusters stood at Rs 12,871.50 crore as of July 15 to entities belonging to micro, small and medium enterprise (MSME) sector, hit hard by the Covid-19 crisis.

The scheme is the biggest fiscal component of the Rs 20-trillion Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman last month.

"As of July 15, #PSBs have sanctioned loans worth Rs 19,668.87 crore for 71 #MSME hubs

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First Published: Jul 17 2020 | 7:56 PM IST

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