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PSBS DISBURSE RS 12,201 CRORE LOANS TO MSMES UNDER EMERGENCY CREDIT LINE SCHEME

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The Finance Ministry on 11 June said public sector banks have disbursed Rs 12,200.65 crore till June 9, under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector, hit hard by lockdown.

  • Public Sector Banks (PSBs) have sanctioned loans worth Rs 24,260.65 crore under the 100 percent ECLGS for the Micro, Small & Medium Enterprises (MSME) sector starting June 1.
  • The scheme is the biggest fiscal component of the Rs 20-lakh crore Self-Reliant India Mission package announced by Finance Minister Smt. Nirmala Sitharaman last month.
  • “As of 9 June 2020, #PSBs have sanctioned loans worth Rs 24,260.65 crore under the 100% Emergency Credit Line Guarantee Scheme, out of which Rs 12,200. 65 crore have been disbursed,” Smt. Sitharaman said in a tweet.
  • Business units of Tamil Nadu have got the highest cumulative sanction of Rs 2,637 crore from banks, while disbursement was to the tune of Rs 1,727 crore at the end of June 9.