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PSBs disburse Rs 16,031 cr loan to MSMEs under emergency credit scheme

On May 21, the Cabinet had approved additional funding of up to Rs 3 trillion at a concessional rate of 9.25 per cent through ECLGS for the MSME sector

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Solicitor General Tushar Mehta, appearing for the Centre, said he had sought a meeting with the RBI. The Bench said if the RBI reply ‘goes much beyond the query posed by us, there will be a lot of opinions on it’

Press Trust of India New Delhi

3 min read Last Updated : Jun 16 2020 | 4:07 PM IST

The Finance Ministry on Tuesday said public sector banks have disbursed Rs 16,031.39 crore till June 12, under the Rs 3-trillion Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector, adversely affected due to Covid-19 crisis.

Public sector banks (PSBs) have sanctioned loans worth Rs 32,049.86 crore under the 100 per cent ECLGS for the Micro, Small & Medium Enterprise (MSME) sector starting June 1. The scheme is the biggest fiscal component of the Rs 20-trillion Atmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman last month.

"As of 12 June 2020, #PSBs have sanctioned loans worth Rs

Topics : public sector banks PSBs MSMEs Economic slowdown