Rs 17,705 Crore Sanctioned To MSMEs Under Emergency Credit Line Guarantee Scheme: Finance Ministry

Government last month announced collateral-free loans for MSMEs

Until 5 June, public sector banks (PSBs) have sanctioned loans worth Rs 17,705.64 crore to micro, small and medium sized enterprises (MSMEs) under the government’s newly-launched Emergency Credit Line Guarantee Scheme (ECLGS), the finance ministry said in a tweet on Sunday. It also added that out of the amount, loans worth Rs 8320.24 crore have already been disbursed.

Under the ‘Atma Nirbhar Bharat Abhiyan’, the government last month announced collateral-free loans worth Rs 3 lakh crore for MSMEs with turnover up to Rs 100 crore till October 31, 2020 and said that a total of 45 lakh MSMEs are expected to benefit from the scheme.

The loans are 100 per cent credit-free and include a moratorium for the first 12 months.

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