Loans of Rs1.14 lakh crore sanctioned to MSMEs

New Delhi, July 7

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

However, disbursements against this stood at Rs 56,091.18 lakh crore till July 4 under the 100% ECLGS for micro, small and medium enterprises (MSMEs).

The scheme is the biggest fiscal component of the Rs 20-lakh crore ‘Aatmanirbhar Bharat Abhiyan’ package announced by Finance Minister Nirmala Sitharaman in May.

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