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MSMEs get Rs 1.63 lakh cr worth loans under ECLGS
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SME Times News Bureau | 14 Sep, 2020
Banks have sanctioned loans
worth over Rs 1.63 lakh crore to MSMEs and other eligible businesses so
far, under the Emergency Credit Line Guarantee Scheme (ECLGS) for over
42 lakh borrowers, the Finance Ministry said on Sunday.
Out of the total sanctioned amount over Rs 1.18 lakh crore has been disbursed, it said.
"As
on 10.09.2020, as reported by Public Sector Banks and top 23 private
sector banks, additional credit amounting to Rs 1,63,226.49 crore has
been sanctioned to 42,01,576 borrowers. Amount of Rs 1,18,138.64 crore
has been disbursed to 25,01,999 borrowers as on 10.09.2020," it said.
The
ministry statement laying down the progress of the schemes announced
under the Aatmanirbhar Bharat economic package in May, said that as on
September 11, around 37 proposals involving an amount of Rs 10,590 crore
have been approved under the Rs 30,000 crore Special Liquidity Scheme
for NBFCs, housing finance companies and micro finance institutions.
Six more applications seeking financing of Rs 783.5 crore are under process.
On
the Rs 30,000 crore Additional Emergency Working Capital Funding for
farmers through NABARD, the ministry said that as on August 28, 2020, Rs
25,000 crore has been disbursed.
It added that the balance
amount of Rs 5,000 crore under the Special Liquidity Facility (SLF) has
been allocated to NABARD by the RBI for smaller NBFCs and NBFC-MFIs and
ANABARD is finalising operational guidelines to roll it out soon.
Besides,
NABARD has also launched Structured Finance and Partial Guarantee
scheme in collaboration with two agencies and banks to help unrated
NBFCs and MFIs to get credit from lenders.
This mechanism worked
out with two such agencies and banks will enhance eligibility of credit
by 5-6 times to those small MFIs who do not have any rating. Once all
the earmarked Rs 500 crore for this scheme is deployed, credit
availability to those small NBFCs and MFIs is expected to reach to an
extent of Rs 2,500 to Rs 3,000 crore.
Further, refunds of over Rs
1.01 lakh crore have been issued to more than 27.55 lakh taxpayers
between April 1, 2020 and September 8, 2020. Income tax refunds of Rs
30,768 crore have been issued in 25,83,507 cases and corporate tax
refunds of Rs 70,540 crore have been issued in 1,71,155 cases.
All corporate tax refunds up to Rs 50 crore have been issued in all cases, wherever due, it said.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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87.50
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84.65 |
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78.25
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75.65 |
Japanese
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56.85 |
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