ECLGS 2.0: Loans sanctioned touch ₹2.05-lakh crore as on Dec 4

Our Bureau Updated - December 11, 2020 at 06:45 PM.

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Loans sanctioned under the 100 per cent Emergency Credit Line Guarantee Scheme (ECLGS) crossed the ₹2-lakh crore mark to touch ₹2,05,563 crore as on December 4, said the Finance Ministry on Friday.

Under the ₹3-lakh crore collateral-free guaranteed loans for businesses, including MSMEs, the Centre had extended 100 per cent guarantee for 20 per cent extra credit to MSMEs, Mudra borrowers, and individual loans for business purposes with outstanding credit of up to ₹30 crore.

It maybe recalled that guidelines were amended on August 4 to include individual loans for business, enhance loan outstanding to ₹50 crore and the annual turnover ceiling to ₹250 crore. A Budgetary provision of ₹4,000 crore was made for the ECLGS scheme in the first supplementary demand for grants for 2020-21.

As part of Aatmanirbhar Bharat Abhiyan 3.0, the ECLGS scheme was extended through ECLGS 2.0 for the 26 stress sectors and the healthcare sector with credit outstanding of above ₹50 crore and up to ₹500 crore as on February 29, 2020.

Of the ₹2.05-lakh crore loan sanctioned, as much as ₹1,58,626 crore has been disbursed, the Department of Financial Services ( DFS) tweeted on Friday.

While loans have been sanctioned for 80,93,491 accounts, disbursal have been made for 40,49,489 accounts.

The entire scheme (ECLGS 1.0 and ECLGS 2.0) is valid till March 31 next year. Nearly 45 lakh MSMEs are understood to have benefitted from this scheme.

Meanwhile, in the ₹45,000-crore Partial Credit Guarantee Scheme 2.0 for NBFCs, HFCs and MFIs, banks have approved purchase of portfolio of ₹27,794 crore and are currently in process of approval/negotiations for ₹1,400 crore as on December 4, the DFS tweeted. This scheme provides guarantee of 20 per cent loss to banks for purchase of bonds/CPs of NBFCs/ HFCs rated below AA.

Also, of the ₹ 30,000 crore additional emergency working capital funding for farmers through NABARD, as much as ₹25,000 crore has been disbursed as on December 4, the DFS tweet added.

Published on December 11, 2020 12:47
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