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  • FM chairs meeting with Pvt Banks, NBFCs to ensure effective roll out of ECLGS

    Published on June 15, 2020

    Finance Minister Nirmala Sitharaman chaired a meeting through Video Conference with officials of Major Private Banks and Non Banking Financial Companies today to ensure effective roll out of Emergency Credit Line Guarantee Scheme.

    She stressed on the need to extend uninterrupted liquidity to Micro, Small and Medium Enterprises in this difficult time.

    Last week, Ms. Sitharaman held a meeting with heads of Public Sector Banks and took stock of the total sanctions being made under the emergency credit facility extended by the government.

    Under the Atma Nirbhar Bharat package , Government announced 3 lakh crore of collateral free loan support to the MSMEs and other stressed companies. As last reported , over 30 thousand crore loan has already been sanctioned under this scheme.

    Secretary Department of Financial Services Debasish Panda was also present in the meeting.