|
|
|
Liquidity to MSMEs rises as ECLGS loans cross 1.14 lakh cr
|
|
|
|
Top Stories |
|
|
|
|
SME Times News Bureau | 07 Jul, 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 July 4, 2020, public sector and
private banks have sanctioned loans worth over Rs 1.14 lakh crore under
the 100 per cent Emergency Credit Line Guarantee Scheme, of which more
than Rs 56,000 crore has already been disbursed.
There has been a
big jump in sanctions in the last couple of weeks and just in last
three days up to July 4, sanctions have increased by close to Rs 5,000
crore while disbursement has increased by Rs 4,000 crore.
In a
tweet, office of finance minister Nirmala Sitharaman said: "As of 4 July
2020, the total amount sanctioned under the 100 per cent Emergency
Credit Line Guarantee Scheme by #PSBs and private banks stands at Rs
1,14,502.58 crore, of which Rs 56,091.18 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
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. Of the Rs 56,000 crore
disbursement, public sector banks have released Rs 35,500 crore to about
13,70,000 MSME accounts while private banks have disbursed Rs 20,500
crore to about 1,55,000 accounts.
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 up to 20 per
cent of their existing borrowing as additional loans at interest rates
which were capped.
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
|
|
|
|
|
|