PSBs lead in disbursing loans to MSMEs under credit guarantee scheme

Banks have sanctioned around Rs 75,000 crore and disbursed about Rs 33,000 crore to micro, small, and medium enterprises (MSMEs) under the Emergency Credit Line Guarantee Scheme (ECLGS), announced under the Atmanirbhar package. 

The bulk of the disbursed amount —about two-third— was contributed by public sector banks. Around 700,000 MSME accounts have availed of the scheme so far, according to a tweet by Finance Minister Nirmala Sitharaman's office. The package consists of Rs 3 trillion and can be availed of till October-end.