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NEW DELHI: The Finance Ministry on Friday said banks have sanctioned loans worth Rs 2,05,563 crore to about 81 lakh accounts under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector that was impacted by disruptions caused due to the coronavirus pandemic.
While, 40 lakh MSME accounts have received Rs 1,58,626 crore till December 4, the Finance Ministry said in a series of tweets.
“Rs 3 lakh cr Collateral-Free Guaranteed Loans – Budgetary provision of Rs 4,000 crore made for the Scheme in First Supplementary Demand for Grants for FY 2020-21,” a tweet said.
Announcing Aatmanirbhar Bharat Package 3.0 last month, Finance Minister Nirmala Sitharaman had said that Rs 2.05 lakh crore sanctioned and Rs 1.52 lakh crore disbursed under ECLGS 1.0.
Under TLTRO, banks can invest in corporate bonds, commercial papers (CPs), and non-convertible debentures (NCDs) issued by the entities in specific sectors
The government has responded to the Covid-driven economic slowdown with a series of stimulus packages in the recent months, some addressing specific concerns of identified sectors in order to bring the economy back on the rails as quickly as possible.
The outlay for various stimulus packages, including the ‘Atmanirbhar Bharat Abhiyan’ (Mission Self-Reliant India), announced by the government amounted to Rs 17.16 lakh crore by now, while the liquidity support and sector- specific measures taken by RBI amounted to Rs 12.71 lakh crore, taking the total value of the stimulus support measures to Rs 29.88 lakh crore, though a few of these outlays would be staggered over five years.
Banks sanction Rs 2.05 lakh crore to 81 lakh MSMEs under credit guarantee scheme
Announcing Aatmanirbhar Bharat Package 3.0 last month, Finance Minister Nirmala Sitharaman had said that Rs 2.05 lakh crore sanctioned and Rs 1.52 lakh crore disbursed under ECLGS 1.0.
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NEW DELHI: The Finance Ministry on Friday said that banks have sanctioned loans worth Rs 2,05,563 crore to about 81 lakh accounts under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector that was impacted by disruptions caused due to the coronavirus pandemic.
While, 40 lakh MSME accounts have received Rs 1,58,626 crore till December 4, the Finance Ministry said in a series of tweets. Rs 3 lakh cr Collateral-Free Guaranteed Loans - Budgetary provision of Rs 4,000 crore made for the Scheme in First Supplementary Demand for Grants for FY 2020-21, a tweet said.