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 June 26, 2020, public sector and private banks have sanctioned loans worth over Rs 1 lakh crore under the scheme, of which more than Rs 45,000 crore has already been disbursed.
There has been a big jump in sanctions in just over a weeks time as the amount was Rs 40,416 crore is of June 18, with disbursement ofRs 21,028.55 crore.
In a tweet, the Finance Ministry highlighted the achievement under the scheme that has been given with combined efforts of both private and public sector banks.”Support to #MSMEs”Loans worth more than Rs 1 lakh cr sanctioned in 37 days “30 lakh+ borrowers under 100% Emergency Credit Line Guarantee Scheme(#ECLGS).