Economy

ECLGS: Loans sanctioned touch ₹1.23 lakh crore

Our Bureau New Delhi | Updated on July 16, 2020

In about a week, loans sanctioned under the ₹3-lakh-crore 100 per cent Emergency Credit Line Guarantee Scheme (ECLGS) to support MSMEs have increased by ₹3,245.79 crore, taking the overall loans sanctioned as of July 15 to ₹1,23,345.16 crore.

The disbursements too saw an increase to the tune of ₹6,323.65 crore as of July 15 compared to the position on July 9, the Finance Minister’s office tweeted on Thursday. As of July 9, the total disbursements under the scheme stood at ₹68,311.55 crore.

The ECLGS was rolled out as part of the ₹20 lakh crore Aatmanirbhar Bharat Package.

It may be recalled that Prime Minister Narendra Modi had on May 12 announced a special economic and comprehensive package of ₹20 lakh crore — equivalent to 10 per cent of GDP — to fight the pandemic.

Under the ECLGS, the loan amounts sanctioned by public sector banks increased to ₹69,135.19 crore, of which ₹41,819.19 crore has been disbursed as of July 15. In the case of private sector banks and NBFCs, the loan amounts sanctioned stood at ₹54,209.97 crore, while amount disbursed stood at ₹26,492.36 crore.

Maharashtra continues to top the charts in terms of loans sanctioned at ₹7,286.86 crore, while Tamil Nadu MSMEs accounted for the largest disbursements at ₹4,383.40 crore.

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Published on July 16, 2020
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