|
|
|
MSME liquidity up as ECLGS sanctions cross 1.38 lakh cr
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 05 Aug, 2020
The government is
going all out to ensure that liquidity concerns of the MSME sector are
addressed on priority under its Emergency Credit Line Guarantee Scheme
(ECLGS).
As of August 3, 2020 public sector and private banks
have sanctioned loans worth over Rs 1.38 lakh crore under the 100 per
cent Emergency Credit Line Guarantee Scheme, of which close to Rs 92,000
crore has already been disbursed.
There has been a big jump in
sanctions in the last 18-20 days with sanctions increasing rapidly by
about Rs 15,000 crore while disbursement increased even rapidly by close
to Rs 25,000 crore.
In a tweet, office of finance minister
Nirmala Sitharaman said: "As of 03 Aug 2020, the total amount sanctioned
under the 100% Emergency Credit Line Guarantee Scheme by #PSBs and
private banks stands at Rs 1,37,586.54 crore, of which Rs 92,090.24
crore has already been disbursed."
The ECLGS scheme is the
biggest fiscal component of the Rs 20-lakh crore Self-Reliant India
Mission package announced by Finance Minister Nirmala Sitharaman in May.
To
ensure that the scheme achieve its objective of providing adequate
liquidity to the MSME segment during the current difficult period, the
finance ministry has regularly held meetings with the banks.
A
finance ministry statement said that banks from both public and private
sector have contributed to the success of the ECLGS. Loan amounts
sanctioned by Public Sector Banks increased to Rs 72,820.26 crore, of
which Rs 52,013.73 crore has been disbursed as of August 3.
Similarly, private banks sanctioned loans to the tune of Rs 64,766.28 crore while disbursed Rs 40,076.52 crore.
The scheme would help more than 30 lakh units of MSMEs and other businesses restart their businesses post the lockdown.
As
part of the Aatmanirbhar package, the government had announced its
plans for Rs 3-lakh crore as additional credit to MSMEs and small
businesses. Such enterprises were to be eligible to receive upto 20 per
cent of their existing borrowing as additional loans at interest rates
which were capped. The loan would be available to units with upto Rs 25
crore outstanding and turnover of up to Rs 100 crore whose accounts are
standard. The units will not have to provide any guarantee or
collateral of their own. The amount will be 100 per cent guaranteed by
the government of India providing a total liquidity of Rs 3 lakh crore
to more than 45 lakh MSMEs.
|
|
|
|
|
|
|
|
|
|
|
|
|
Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
|
66.20
|
64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
|
|
Daily Poll |
|
|
PM Modi's recent US visit to redefine India-US bilateral relations |
|
|
|
|
|
Commented Stories |
|
|
|
|
|
|
|
|