Monday, August 8th, 2022 22:47:22

Public Sector Banks disburse Rs 18,306 crore to MSME, says FM Sitharaman 

Updated: June 18, 2020 1:52 pm
Finance Minister Nirmala Sitharaman today said the Public Sector Banks have disbursed 18 thousand 306 crore rupees to the Micro, Small and Medium Enterprises, MSME sector.

She said, Public Sector Banks have sanctioned loans worth 32 thousand 49 crore rupees under the 100 per cent Emergency Credit Line Guarantee Scheme. Maximum disbursements were made by the State Bank of India followed by Canara Bank. SBI disbursed nine thousand 488 crore rupees whereas Canara bank disbursed one thousand 619 crore rupees so far.

Public Sector Banks have disbursed maximum amounts to Tamil Nadu followed by Maharashtra and Gujarat. Emergency Credit Line Guarantee Scheme was launched by the Government to provide much needed relief to the MSME sector by incentivizing member lending institutions to provide additional credit of upto three lakh crore at low interest to enable MSME to meet their operational requirements in the Covid-19 crisis. This scheme provides 100 percent guarantee coverage by National Credit Guarantee Trustee Company to member lending institutions.

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