Loans of Rs1.14 lakh crore sanctioned to MSMEs

New Delhi, July 7

The Finance Ministry on Tuesday stated banks have sanctioned loans of Rs 1,14,502 crore below the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for MSMEs reeling below the financial slowdown brought on by the Covid pandemic.

However, disbursements towards this stood at Rs 56,091.18 lakh crore until July four below the 100% ECLGS for micro, small and medium enterprises (MSMEs).

The scheme is the largest fiscal element of the Rs 20-lakh crore ‘Aatmanirbhar Bharat Abhiyan’ bundle introduced by Finance Minister Nirmala Sitharaman in May.

The newest numbers on ECLGS comprise disbursements by all 12 public sector banks, 20 non-public sector banks and 10 non-banking finance corporations (NBFCs). — PTI

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