The Finance Ministry said that banks have loaned more than one lakh crore rupees under the Emergency Credit Facility Guarantee Scheme (ECLGS) for the Micro, Small and Medium Enterprises (MSME) sector affected by the economic slowdown due to Kovid-19. Has distributed. According to the statement of the Ministry, public and private sector banks have approved loans of more than Rs 1.5 lakh crore till August 18, 2020 under 100 percent ECLGS. Of these, loans worth more than Rs 1 lakh crore have been disbursed.
The ECLGS was announced by Finance Minister Nirmala Sitharaman as part of the Self-Reliant India Package. It aims to mitigate the crisis arising out of the Kovid-19 epidemic and the lockdown imposed for its prevention by providing loans to various sectors, especially MSMEs. The ministry said that all 12 public sector banks, 24 private sector banks and 31 non-banking financial companies (NBFCs) disbursed loans. According to the statement, loans worth Rs 1,50,759.45 crore have been approved under the scheme, out of which Rs 1,02,245.77 crore have been disbursed till August 18. Public sector banks have sanctioned loans worth Rs 76,044.44 crore, of which loans worth Rs 56,483.41 crore have been disbursed. Similarly, private sector banks have sanctioned loans worth Rs 74,715.02 crore, out of which loans worth Rs 45,762.36 crore have already been disbursed.
Maharashtra enterprises get the most debt
Maharashtra units were sanctioned loans worth Rs 7,756 crore, out of which Rs 6,007 crore has been disbursed till August 18. It was followed by Tamil Nadu. 7,740 crore loans have been sanctioned here and Rs 5,693 crore has been disbursed. Under this scheme, enterprises of MSME sector are being provided guarantee free loan at concessional interest rate of 9.25 percent. The scheme was approved by the Union Cabinet on 20 May. The top lenders under this scheme are State Bank of India (SBI), Canara Bank, Punjab National Bank (PNB), Bank of India, Union Bank of India and HDFC Bank.