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  • Public & Pvt Sectors banks sanction loans worth over Rs. 79,000 cr so far under ECLGS

    Published on June 23, 2020

    Public and Private Sectors banks have sanctioned loans worth over 79 thousand crore rupees so far under Emergency Credit Line Guarantee Scheme.

    Out of which more than 35,000 crore have already been disbursed.

    The Scheme was launched by the Government to provide relief to the MSME sector by incentivizing member lending institutions to provide additional credit of upto Rs. three lakh crore at low interest to enable MSME to meet their operational requirements during Covid-19 crisis.

    Finance Ministry said, the interventions by Government for Micro, Small and Medium Enterprises, MSMEs, have been gaining rapid traction.

    The top lenders under the Scheme are SBI, HDFC Bank, Bank of Baroda, Punjab National Bank and Canara Bank.

    The Ministry said, this has helped 19 lakh MSMEs and other businesses restart their businesses post the lockdown.