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Loans worth more than Rs 1 lakh crore sanctioned under ECLGS; More than 30 lakh units of MSMEs & other businesses received help under the Scheme

IBEF:  July 01, 2020

Under the 100 per cent Emergency Credit Line Guarantee Scheme (ECLGS) backed by a Government guarantee, Banks from Public and Private Sectors have sanctioned loans worth over Rs 1 lakh crore (US$ 14.19 billion) as of June 26, 2020, of which more than Rs 45,000 crore (US$ 6.38 billion) has already been disbursed.  This would help more than 30 lakh units of MSMEs and other businesses restart their businesses post the lockdown.

PSBs have sanctioned loans of Rs 57,525.47 crore (US$ 8.16 billion) whereas Private Sector Banks have sanctioned loans of Rs 44,335.52 crore (US$ 6.29 billion) under ECLGS. The top lenders under the Scheme are SBI, Bank of Baroda, PNB, Canara Bank and HDFC.

 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.