In a major milestone, the public and private sector banks sanctioned loans under Centre's Emergency Credit Line Guarantee Scheme (ECLGS) for the MSMEs have exceeded worth of Rs one lakh crore, reports Hindu Businessline.
Under the scheme, MSMEs across the nation can borrow a total of Rs three lakh crore which is entirely guaranteed by the Centre to the banks. The scheme was launched by the Government as a part of its Aatmanirbhar Bharat economic package announced by Prime Minister (PM) Narendra Modi in May.
While the total amount sanctioned by the banks stands at Ra 1,01,861 crore, the disbursements stand at Rs 45,000 crore. The beneficiaries tally up to 30 lakh MSME entities.
It should also be noted that of the total sum, while public sector banks have sanctioned Rs 57,525.47 crore, the private sector banks have sanctioned the rest and comparable amount of Rs 44,335.52 crore.
In case of disbursements, public sector banks have disbursed as much as Rs 29,232.27 crore while the private sector banks have sanctioned Rs 16,628.33 crore.
Among all banks, State Bank of India (SBI) has sanctioned the maximum sum of Rs 19,593.30 crore and disbursed Rs 12,026.08 crore.
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