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Banks Sanctioned Credit Over INR 1.61 Crore Under ECLGS Scheme

The total disbursement by public sector banks and private banks stands at nearly INR 1.31 crore as of 3 September, 2020
BY BEx Bureau
Sep 08, 2020

The Ministry of Finance has lately announced that the banks have been offered credit of roughly INR 1.61 crore out of INR 3 lakh Emergency Credit Line Guarantee Scheme (ECLGS). Although, total disbursement by public sector banks and private banks stands at nearly INR 1.31 crore at present, according to the official relesed figures.

Nirmala Sitharaman, the Finance Minister of India, tweeted, "As of 03 Sept 2020, the total amount sanctioned under the 100 per cent Emergency Credit Line Guarantee Scheme by #PSBs and private banks stands at INR 1,61,017.68 crore, of which INR 1,13,713.15 crore has already been disbursed."

The credit sanctioned to public sector banks have increased to approximately INR 78 crore, of which about INR 62 crore have been disbursed aggregately by PSBs.

Sitharman said in another tweet, "Under the 100 per cent ECLGS, the loan amounts sanctioned by Public Sector Banks increased to INR 78,067.21 crore, of which INR 62,025.79 crore has been disbursed as of 03 Sept 2020."

Amid all states, Maharashtra has the highest amount of loan disbursment at INR 6,708.16 crore. Following this, Uttar Pradesh is second in the line with INR 6,200.19 crore loan disbursements to MSMEs. While Tamil Nadu stands third with INR 6,150.27 crore loans disbursements and Gujarat is fourth by disbursing INR 5,687.55 crore loans.

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