MSMEs Get Rs 21,029 Cr Loan As Per Credit Guarantee Scheme

New Delhi, June 19: The finance ministry on Friday said public sector banks have disbursed Rs 21,028.55 crore under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector reeling under stress due to the coronavirus-induced lockdown.

Public sector lenders have sanctioned loans worth Rs 40,416 crore under the 100 per cent ECLGS for the MSMEs, starting June 1.

The scheme is the biggest fiscal component of the Rs 20-lakh crore 'Self-Reliant India Mission' package announced by Finance Minister Nirmala Sitharaman last month.

"As of 18 June 2020, #PSBs have sanctioned loans worth Rs 40,416 crore under the 100% Emergency Credit Line Guarantee Scheme, out of which Rs 21,028.55 crore has already been disbursed," Sitharaman said in a tweet.

Business units of Gujarat have got highest cumulative sanction of Rs 4,156 crore from banks, while disbursement was to the tune of Rs 1,657 crore at the end of June 18.

It is followed by Maharashtra with a sanction of Rs 4,009.46 crore, with disbursement of Rs 1,735 crore.