TaxTMI 
TaxTMI 
Government Schemes for MSMEs 79,000 crore
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....overnment Schemes for MSMEs 79,000 crore <br>News and Press Release<br>Dated:- 23-6-2020<br><BR>The interventions by Government for MSMEs, have been gaining rapid traction. Under the Emergency Credit Line backed by a Government guarantee, Banks from Public & Private Sectors have so far already sanctioned loans worth over ₹ 79,000 crore as of June 20, 2020, of which more than ₹ 35,000 c....
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....rore has already been disbursed. The top lenders under the Scheme are SBI, HDFC Bank, Bank of Baroda, PNB & Canara Bank. This has helped 19 lakh MSMEs & other businesses restart their businesses post the lockdown. 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 ....
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....to receive upto 20% of their existing borrowing as additional loans at interest rates which were capped. Separately, under RBI's Special Liquidity Facility announced in March-April, 2020, SIDBI has sanctioned over ₹ 10,220 crore to NBFCs, Micro Finance Institutions & Banks for lending to MSME & small borrowers. National Housing Bank (NHB) has sanctioned its entire facility of ₹ 10,000....
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.... crore to Housing Finance Companies. This refinance by SIDBI & NHB is in addition to ongoing schemes through which over ₹ 30,000 crore has been sanctioned. NBFCs & MFIs are being further helped under the Extended Partial Guarantee Scheme where approvals have crossed ₹ 5500 crore. Transactions for another ₹ 5000 crore are under process of approval while certain other deals are cur....
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....rently under negotiation.<BR> News - Press release - PIB....