NEW DELHI: The finance ministry on Thursday mentioned banks have sanctioned loans of about Rs 1,87,579 crore to 50.7 lakh enterprise items beneath the Rs 3-lakh crore Emergency Credit score Line Assure Scheme (ECLGS) for the MSME sector impacted by slowdown attributable to the coronavirus pandemic.
Of this, about 27 lakh MSME items acquired cumulative disbursement of Rs 1,36,140 crore until October 5.
The scheme is the most important fiscal element of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan bundle introduced by finance minister Nirmala Sitharaman in Might to mitigate the misery attributable to lockdown as a consequence of Covid-19 by offering credit score to totally different sectors, particularly micro, small and medium enterprises (MSMEs).
The most recent numbers on ECLGS, as launched by the finance ministry, comprise disbursements by all 12 public sector banks (PSBs), 24 non-public sector banks and 31 non-banking monetary corporations (NBFCs).
“As of 5 Oct 2020, the full quantity sanctioned beneath the 100% Emergency Credit score Line Assure Scheme by #PSBs, non-public banks & NBFCs to #MSMEs & people stands at Rs 1,87,579 cr, of which Rs 1,36,140 cr has already been disbursed,” the finance minister mentioned in a tweet.

The mortgage quantities sanctioned by PSBs elevated to Rs 81,648.82 crore, of which Rs 68,814.43 crore has been disbursed as of October 5, she mentioned.
On the similar time, non-public sector banks have sanctioned Rs 86,576 crore of loans and disbursed Rs 59,740 crore, whereas NBFCs sanctioned Rs 3,032 crore with disbursement of Rs 2,227 crore.
“The ambit of the Scheme was expanded to incorporate MSMEs with turnover of as much as Rs 250 crore & people for enterprise functions. As of 05 Oct 2020, Rs 17,460 crore of loans to people have been sanctioned, of which Rs 5,939 crore has been disbursed,” she mentioned.
In one other tweet, she mentioned as many as 33 stranded housing tasks with funding of Rs 4,197 crore have been accorded closing approval beneath the SWAMIH scheme.
“Particular window for Reasonably priced & Mid Revenue Housing Fund (SWAMIH) is working at a quick tempo to offer reduction to owners. As on 05.10.2020, 33 tasks with funding of Rs 4,197 cr accorded closing approval & will result in completion of 25,048 residence items,” the finance minister mentioned in tweet.
Total, 123 tasks have now been sanctioned, together with closing approval to 33 tasks, with an funding of Rs 12,079 crore that may goal to offer reduction to 81,308 owners, she mentioned.
On Might 20, the Cupboard authorized further funding of as much as Rs Three lakh crore at a concessional price of 9.25 per cent via ECLGS for MSME sector.
Beneath the scheme, 100 per cent assure protection will probably be supplied by the Nationwide Credit score Assure Trustee Firm (NCGTC) for extra funding of as much as Rs Three lakh crore to eligible MSMEs and Micro Models Improvement and Refinance Company (MUDRA) debtors within the type of a assured emergency credit score line (GECL) facility.
For this objective, a corpus of Rs 41,600 crore was arrange by the federal government, unfold over the present and subsequent three monetary years.
The scheme will probably be relevant to all loans sanctioned beneath GECL facility through the interval from the date of announcement of the scheme to October 31 or until the quantity of Rs Three lakh crore is sanctioned beneath GECL, whichever is earlier.

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