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Government Schemes for MSMEs NBFCs creating significant impact - Sanctions under Emergency Credit Line Guarantee Scheme (ECLGS)cross Rs. 79,000 crore The interventions by Government for MSMEs, have been gaining rapid traction.Under the Emergency Credit Line backed by a Government guarantee, Bank
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FAQ :
As of June 20, 2020, banks have sanctioned over Rs 79,000 crore to MSMEs under the Emergency Credit Line Guarantee Scheme (ECLGS).
More than Rs 35,000 crore of the sanctioned ECLGS loans has already been disbursed.
Approximately 19 lakh MSMEs and other businesses have been helped to restart their operations through these loans.
The government announced plans for Rs 3 lakh crore as additional credit to MSMEs and small businesses under the Aatmanirbhar package.
The top lenders under the ECLGS are SBI, HDFC Bank, Bank of Baroda, PNB, and Canara Bank.
Yes, SIDBI has sanctioned over Rs 10,220 crore to NBFCs, Micro Finance Institutions & Banks under RBI's Special Liquidity Facility, and NHB has sanctioned its entire Rs 10,000 crore facility to Housing Finance Companies. Additionally, NBFCs & MFIs are being supported under the Extended Partial Guarantee Scheme.
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