Macro Economy

ECLGS: Loan disbursements cross ₹1 lakh crore

Our Bureau New Delhi | Updated on August 20, 2020

Loans sanctioned cross ₹1.50 lakh crore

Achieving a milestone, the aggregate loan disbursements under the ₹3 lakh crore 100 per cent Emergency Credit Line Guarantee Scheme (ECLGS) crossed the ₹1 lakh crore mark as of August 18. Cumulative loans sanctioned, too, hit a milestone touching ₹1.50 lakh crore as of the same date.

Also, private sector banks, which started late, have done some brisk business in the last fortnight and almost reached the level of public sector banks (PSBs) on both cumulative loans sanctioned and disbursed,

As of August 18, the aggregate loans sanctioned under the ECLGS stood at ₹1,50,759.45 crore, of which disbursements stood at ₹1,02,245.77 crore.

While PSBs’ aggregate loan sanctioned stood at ₹76,044.44 crore, that by private sector banks stood at ₹74,715.02 crore. Disbursements of PSBs and private banks stood at ₹56,483.41 crore and ₹45,762.36 crore, respectively, data tweeted by the Finance Minister’s Office showed.

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 Covid pandemic in India. He had then given a clarion call for an Aatmanirbhar Bharat, or Self-Reliant India, movement.

Maharashtra continues to top the charts in terms of loans sanctioned and disbursed at ₹7,756.2 crore and ₹6007.32 crore, respectively.

Published on August 20, 2020

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