PSBs disburse Rs 16,031 cr loan to MSMEs under emergency credit scheme

On May 21, the Cabinet had approved additional funding of up to Rs 3 trillion at a concessional rate of 9.25 per cent through ECLGS for the MSME sector

The Finance Ministry on Tuesday said public sector banks have disbursed Rs 16,031.39 crore till June 12, under the Rs 3-trillion Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector, adversely affected due to Covid-19 crisis.
 

Public sector banks (PSBs) have sanctioned loans worth Rs 32,049.86 crore under the 100 per cent ECLGS for the Micro, Small & Medium Enterprise (MSME) sector starting June 1. The scheme is the biggest fiscal component of the Rs 20-trillion Atmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman last month.

"As of 12 June 2020, #PSBs have sanctioned loans worth Rs