The State Government has now focused on expediting the process of lending MSME units under the Emergency Credit Line Guarantee Scheme (ECLGS).
As part of the “Atmanirbhar Bharat Package”, the Union Government has now introduced ECLGS to support eligible MSME units to meet their operational liabilities and restart their businesses in context of the unprecedented situation caused by Covid-19 pandemic and related lockdown.
MSME Minister Dibya Shankar Mishra chaired a review meeting on the ECLGS here recently. MSME Secretary Satyabrata Sahu, Industries Director and senior officers from various banks were present, among others.
It was revealed that while Rs 2,829 crore was sanctioned for 1,95,976 eligible accounts, so far 86,623 accounts have been provided loan facility amounting to Rs 1,490 crore under the ECLGS.
Under the scheme, MSMEs which had taken loan from various banks would be provided additional 20 per cent credit facility with the maximum cap limit of Rs 25 crore.
The Minister impressed upon all to expedite this process and complete sanction of loans by July 15 so that maximum credit benefit is availed by MSME units in the State.