The much talked about ₹3-lakh crore 100 per cent Emergency Credit Line Guarantee Scheme (ECLGS) to support MSMEs in these trying times has seen loans sanctioned exceed the ₹1-lakh-crore mark as of June 26, official data showed.
Of the cumulative loans sanctioned amount of ₹1,01,861 crore, the disbursements stood at ₹45,000 crore. This would help more than 30 lakh units of MSMEs and other businesses restart their businesses post the lockdown, an official release said.
While public sector banks (PSBs) have sanctioned ₹57,525.47 crore, private sector banks, although started later, are fast catching up with loan sanctions of ₹44,335.52 crore. As regards disbursements, public sector banks have disbursed ₹29,232.27 crore and private sector banks ₹16,628.33 crore.
On the public sector banks front, State Bank of India (SBI) has sanctioned loans to the tune of ₹19,593.30 crore and disbursed ₹12,026.08 crore, the data released by the Finance Ministry showed.