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.
As of 5 June 2020, #PSBs have sanctioned loans worth Rs 17,705.64 crore under the 100% Emergency Credit Line Guarantee Scheme, out of which Rs 8320.24 crore have been disbursed. Here are the bank-wise and state-wise details. #AatmanirbharBharat#MSMEspic.twitter.com/8uJWRlAFJX
— NSitharamanOffice (@nsitharamanoffc) June 7, 2020
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.