New Delhi: Finance Ministry on Friday said that banks and other financial institutions have given loans of Rs 52,255 crore to MSME till July 1 under the Emergency Credit Facility Guarantee Scheme. Banks and other financial institutions have sanctioned loans worth Rs 1.10 lakh crore so far under this scheme, which started from June 1, with 100 percent guarantee.
Union Finance Minister Nirmala Sitharaman announced a Rs 20 lakh crore self-reliant India package last month to support the economy affected by the global pandemic Coronavirus. The biggest part of this package is the Rs. 3 lakh crore emergency loan facility guarantee scheme announced for Micro, Small and Medium Enterprises (MSME).
These figures, released under the Emergency Credit Facility Guarantee Scheme, include loans allocated and disbursed by 12 public banks, 20 private banks and nine non-banking financial institutions (NBFCs). Nirmala Sitharaman said in a tweet that, "As of July 1, 2020, public sector banks and private banks have approved a loan of Rs 1,10,348 crore under the 100 percent Emergency Credit Facility Guarantee Scheme. Of this, loans of Rs 52,255 crore Delivery has been made. "
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