Home / Finance / News / Banks sanction loans of Rs 1.56 trn to MSMEs under credit guarantee scheme

Banks sanction loans of Rs 1.56 trn to MSMEs under credit guarantee scheme

The loan amounts sanctioned by PSBs increased to Rs 76,765 crore, of which Rs 58,230 crore has been disbursed as of August 24, Sitharaman said

debt, loan, liquidity, market share, corporate, company, companies, firm, india inc, cash, fund, shares, stocks, shareholding, investment, lending

Premium

For this purpose, a corpus of Rs 41,600 crore was set up by the government, spread over the current and next three financial years.

Press Trust of India New Delhi

3 min read Last Updated : Aug 25 2020 | 11:11 PM IST

The Finance Ministry on Tuesday said banks have sanctioned loans of about Rs 1,55,995 crore under the Rs 3-trillion Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector reeling under the slowdown caused by the coronavirus pandemic.

However, disbursements against this stood at Rs 1,05,926 trillion till August 24.

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

The latest numbers on ECLGS, as released by the finance ministry, comprise disbursements by all 12 public sector banks (PSBs), 24 private sector banks and 31 non-banking

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in