Money & Banking

ECLGS: Loans sanctioned cross ₹1.38 lakh crore

Our Bureau New Delhi | Updated on August 04, 2020 Published on August 04, 2020

In what could be music to the ears of policymakers, the disbursements under the ₹3-lakh crore 100 per cent Emergency Credit Line Guarantee Scheme (ECLGS) has begun to gather pace, improving to 67 per cent of the sanctioned levels as of August 3.

The overall disbursements were hitherto ranging at 50-55 per cent.

Private sector banks, which started late, are also inching closer to the Public Sector Banks’ (PSBs) tally.

As on August 3, the aggregate loans sanctioned under the ECLGS stood at ₹1,37,586.54 crore, of which disbursements stood at ₹92,090.24 crore.

While PSBs aggregate loan sanctioned stood at ₹72, 820 crore, the private sector banks’ sanctioned loans level stood at ₹64,766 crore. Disbursements of PSBs and private banks stood at ₹52,014 crore and ₹40,077 crore, respectively.

Compared to July 23, there is an increase of ₹7,094.75 crore in overall loans sanctioned, while disbursements grew ₹10,025.23 crore, data tweeted by the Finance Minister’s Office showed.

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

Maharashtra continues to top the charts in terms of loans sanctioned at ₹7,504 crore. It has also now dislodged Tamil Nadu to account for the largest disbursements at ₹5,512 crore.

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Published on August 04, 2020
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