Loans worth more than ₹ 1 lakh crore sanctioned under ECLGS

More than 30 lakh units of MSMEs & other businesses received help under the Scheme

Under the 100 % Emergency Credit Line Guarantee Scheme (ECLGS) backed by a Government guarantee , Banks from Public & Private Sectors have sanctioned loans worth over ₹ 1 lakh crore as of June 26, 2020, of which more than ₹ 45,000 crore has already been disbursed.  This would help more than 30 lakh units of MSMEs & other businesses restart their businesses post the lockdown..

 

PSBs have sanctioned loans of ₹ 57,525.47 crore whereas Private Sector Banks have sanctioned loans of ₹ 44,335.52 crore under ECLGS. The top lenders under the Scheme are SBI , Bank of Baroda, PNB, Canara Bank & HDFC.
Details of Loans sanctioned & disbursement by 12 PSBs are as follows:

As part of the Aatmanirbhar package Government had announced its plans for ₹ 3 lakh Crore as additional credit to MSMEs and small businesses. Such enterprises were to be eligible to receive upto 20% of their existing borrowing as additional loans at interest rates which were capped.
State wise details of loans sanctioned and disbursed under ECLGS by PSBs are as follows:

                        
  

Emergency Credit Line Guarantee Scheme increases guaranteed credit access for MSMEs, enabling widespread sanctioned loans under government guarantee The Emergency Credit Line Guarantee Scheme provides a 100% government-backed guarantee to expand credit for MSMEs and eligible businesses, permitting additional loans calculated as a proportion of existing borrowings at capped interest rates. The scheme, part of the Aatmanirbhar package, is implemented through public and private banks, with recorded sanctioned and disbursed amounts and state-wise reporting to monitor uptake and assistance to business units.