Rs 1.5 trillion sanctioned by banks under MSME lending scheme so far

Lenders have sanctioned almost half of the money promised under the Emergency Credit Line Guarantee Scheme (ECLGS) almost three months after its announcement. 

Public and private sector banks have sanctioned over Rs 1.5 trillion as of August 18. 

As much as Rs 3 trillion was promised to be lent under the scheme, fully guaranteed by the government. The lenders have disbursed Rs  1.02 trillion to 2.37 million accounts. 

The scheme was primarily aimed at the micro, small and medium enterprises (MSMEs), hit hard by lockdowns due to the outbreak of Covid-19.