Over Rs 75,000 Crore Of Loans Sanctioned By Banks Under Centre's 100 Per Cent Guaranteed ECLGS Scheme For MSMEs

The Union Ministry of Finance said on Monday (22 June) that the banks have sanctioned more than Rs 75,000 crore of loans under its cent per cent guaranteed Rs 3-lakh crore Emergency Credit Line Guarantee Scheme meant for the MSMEs, reports Economic Times.

The total amount sanctioned under the scheme has touched Rs 75,426.39 crore since 1 June, while an amount of Rs 32,894.86 crore has already been disbursed by the banks to the applicant MSME units.

Of the total sum of loans sanctioned so far under the scheme, Rs 42,739.12 crore has been sanctioned by 12 public sector banks (PSBs) while a sum of Rs 32,687.27 crore has been sanctioned by private sector banks.

The scheme was a part of the Centre's Aatmanirbhar Bharat programme unveiled by Prime Minister (PM) Narendra Modi and Union Minister of Finance Nirmala Sitharaman. It received the Union Cabinet's nod on 21 May and came into force soon after.