Banks sanction Rs. 1.87 trillion to MSMEs under ECLGS

The Finance Ministry has said banks have sanctioned loans of about Rs. 1.87 trillion to 5 million business units under the Rs. 3 trillion Emergency Credit Line Guarantee Scheme (ECLGS) for the micro, small and medium enterprises (MSME) sector impacted by slowdown caused by the coronavirus pandemic.

Of this, about 2.7 million MSME units received cumulative disbursement of Rs. 1.3 trillion till October 5. The scheme is the biggest fiscal component of the Atmanirbhar Bharat Abhiyan package.