Saturday, May 28th, 2022 03:07:11

Public, Private Sectors banks sanctioned loans worth over Rs 1.10 lakh cr 

Updated: July 4, 2020 11:47 am
Public and Private Sectors banks have sanctioned loans worth over one lakh ten thousand crore rupees so far under Emergency Credit Line Guarantee Scheme.

Out of which, more than 52 thousand 200 crore rupees have already been disbursed. The scheme was launched by the government to provide relief to the MSME sector by incentivizing member lending institutions to provide additional credit of up to three lakh crore at low interest to enable MSMEs to meet their operational requirements during the COVID-19 crisis.

Finance Ministry said, the interventions by government for Micro, Small and Medium Enterprises, MSMEs, have been gaining rapid traction. The top lenders under the Scheme are SBI, HDFC Bank, Bank of Baroda, Punjab National Bank and Canara Bank.

The Ministry said, this has helped nearly 35 lakh MSMEs and other enterprises restart their businesses post the lockdown.

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