Banks Sanction ₹2.05 Lakh Crores To 81 Lakh MSMEs

  • On Friday, the Finance Ministry tweeted that the banks have sanctioned loans worth ₹2.05 lakh crores to 81 lakh MSME accounts.

  • The loans have been granted under the Emergency Credit Line Guarantee Scheme (ECLGS).

  • The ministry also tweeted that 40 lakh MSMEs accounts have been granted loans worth ₹1.58 lakh crores till December 4.

  • The loans have been granted to the MSMEs as a relief for the COVID-19 crisis.

  • "₹3 lakh crores Collateral-Free Guaranteed Loans - Budgetary provision of ₹4,000 crore made for the Scheme in First Supplementary Demand for Grants for FY 2020-21," a tweet said.

  • "As part of the Aatmanirbhar Bharat Abhiyan 3.0, ECLGS Scheme has been extended through ECLGS 2.0 for the 26 stress sectors and health care sector with credit outstanding of above ₹50 crore and up to ₹500 crore as on February 29, 2020," a tweet said.

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