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Total Amount Of Rs 1,42,318.09 Sanctioned Under Emergency Credit Line Guarantee Scheme: Nirmala Sitharaman

Mumbai: Union Finance Minister Nirmala Sitharaman said on Friday that the total amount sanctioned by public sector banks and private banks under the 100 percent Emergency Credit Line Guarantee Scheme is Rs 1,43,318.09 crore.

“As of 12 Aug 2020, the total amount sanctioned under the 100 per cent Emergency Credit Line Guarantee Scheme by #PSBs and private banks stand at Rs 1,43,318.09 crore, of which Rs 98,665.93 crore has already been disbursed,” she tweeted.

“Under the 100 per cent ECLGS, the loan amounts sanctioned by Public Sector Banks increased to 74,502.85 crores, of which Rs 54,677.11 crore has been disbursed as of 12 Aug 2020,” she said in another tweet.

“Compared to 03 Aug 2020, there is an increase of Rs 5,731.55 crore in the cumulative amount of loans sanctioned & an increase of Rs 6,551.93 crore in the cumulative amount of loans disbursed by both #PSBs and private sector banks combined as on 12 Aug 2020,” the Finance Minister stated.

The Emergency Credit Line Guarantee Scheme was launched by the government to provide much-needed relief to the MSME sector to member lending institutions, enabling MSMEs to meet their operational requirements in COVID19 at a low interest of up to Rs 3 lakh crore. Additional loans may be provided. 19 crisis.

The scheme provides 100 percent guarantee coverage to member lending institutions by the National Credit Guarantee Trustee Company.

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