SBI sanctions loans to over 400,000 MSMEs under credit guarantee scheme

State Bank of India (SBI) has sanctioned loans to over 400,000 accounts under the Rs 3 trillion Emergency Credit Line Guarantee Scheme (ECLGS) for MSME sector, hit hard by the coronavirus-induced lockdown.

On the occasion of International MSME Day, SBI managing director C S Shetty on Friday addressed MSME customers and employees across the nation video conference.

SME products were highlighted to the customers to increase awareness and enable them to choose the right product for their business, SBI said in a statement.

At the national level, the bank has sanctioned loans to over 400,000 customers under guaranteed emergency credit line (GECL) facility