SME Times is powered by   
Search News
Just in:   • Chips, smartphones help Samsung deliver strong Q3 results  • Agridex's rally likely to continue on bullish demand for food items  • Non-central employees now under LTC cash voucher scheme  • Tech Mahindra bags Rs 400 cr contract from HAL  • Solar power in Africa is set to surge: Report 
Last updated: 24 Sep, 2020  

msme-THMB-2010.jpg ECLGS: Banks sanction Rs 1.77 lakh cr to MSMEs

MSME.9.jpg
   Top Stories
» Non-central employees now under LTC cash voucher scheme
» Core sector output fall arrested in Sept
» Govt proposes overhaul of FDI regime
» Women-founded tech startups see funding drop 24%
» SCO member countries for enhancing MSME cooperation
SME Times News Bureau | 24 Sep, 2020
Banks have so far sanctioned over Rs 1.77 lakh crore to MSMEs under the Emergency Credit Line Guarantee Scheme (ECLGS), it was announced on Thursday.

In a series of tweets on the progress of the scheme, the office of Finance Minister Nirmala Sitharaman said that out of the total sanctioned amount, over Rs 1.25 lakh crore has already been disbursed.

"As of 21 Sept 2020, the total amount sanctioned under the 100 per cent Emergency Credit Line Guarantee Scheme by PSBs and private banks to MSMEs and individuals stands at Rs 1,77,353 crore, of which Rs 1,25,425 crore has already been disbursed," it said.

In another tweet, the Minister's office said that compared to September 3, there is an increase of Rs 16,335.32 crore in the cumulative amount of loans sanctioned and an increase of Rs 11,711.85 crore in the cumulative amount of loans disbursed by both public sector banks and private sector banks combined as on September 21.

Under the scheme, the loan amounts sanctioned by public sector banks increased to Rs 79,347.73 crore, of which Rs 65,051.89 crore has been disbursed.

The ambit of the scheme was expanded to include MSMEs with turnover of up to Rs 250 crore and individuals for business purposes.

"As of Sept 21, 2020, Rs 9,849.74 crore of loans to individuals have been sanctioned, of which Rs 2,617.08 crore has been disbursed," said another tweet.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  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 30 Oct, 2020
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter