New Delhi, October 8
The Finance Ministry on Thursday said banks have sanctioned loans of about Rs 1,87,579 crore to 50.7 lakh business units under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector impacted by slowdown caused by the coronavirus pandemic.
Of this, about 27 lakh MSME units received cumulative disbursement of Rs 1,36,140 crore till October 5.
The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by the Finance Minister in May to mitigate the distress caused by lockdown due to Covid by providing credit to different sectors, especially MSMEs.
The latest numbers on ECLGS comprise disbursements by all 12 PSBs, 24 private banks and 31 NBFCs. — PTI