The finance ministry said banks have sanctioned loans of about Rs 1,14,502 crore under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for MSME sector reeling under the economic slowdown caused by the COVID-19 pandemic. Disbursements against this stood at Rs 56,091.18 lakh crore till July 4 under the 100 per cent ECLGS for micro, small and medium enterprises (MSMEs). The scheme is the biggest fiscal component of the Rs 20-lakh crore 'Aatmanirbhar Bharat Abhiyan' package announced by government in May.
The latest numbers on ECLGS comprise disbursements by all 12 public sector banks (PSBs), 20 private sector banks and 10 non-banking financial companies (NBFCs). Under the ECLGS, the loan amounts sanctioned by PSBs increased to Rs 65,863.63 crore, of which Rs 35,575.48 crore has been disbursed as of July 4. At the same time, private sector banks have sanctioned Rs 48,638.96 crore and disbursed Rs 20,515.70 crore.
SBI has sanctioned Rs 20,628 crore of loans and disbursed Rs 13,405 crore. It is followed by Punjab National Bank, which has sanctioned Rs 8,689 crore. However, its disbursements stood at Rs 2,595 crore as of July 4. The business units of Maharashtra have got the highest cumulative sanction of Rs 6,856 crore from banks, while disbursement was to the tune of Rs 3,605 crore as of July 4. It is followed by Tamil Nadu, with sanction of Rs 6,616 crore loans and disbursements of Rs 3,871 crore.
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