Rs 1.6 lakh crore MSME loans sanctioned so far under Aatmanirbhar Bharat Abhiyan package.
The 12 public sector banks, 24 private sector banks and 31 non-banking financial companies (NBFCs) have sanctioned loans of Rs 1.61 lakh crore (disbursements of Rs 1.14 lakh crore up to Sept. 3) to the MSME sector under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) announced to counter COVID-19 downturn.
The news was confirmed by the The Finance Ministry on Monday, September 7.
For your reference, ECLGS is the biggest component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May earlier this year. On May 20, the Union Cabinet had approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25% through ECLGS for the MSME sector.
Of the total amount, public sector banks sanctioned Rs 78.1 thousand crore (Rs 62.0 thousand crore disbursed), and private sector banks sanctioned Rs 82.95 thousand crore (disbursed Rs 51.69 thousand crore).
Despite the higher sanction by private sector banks, the highest lenders were the top two public sector banks, SBI and PNB.
SBI sanctioned Rs 24.4 thousand crore and disbursed Rs 19.0 thousand crore, while PNB sanctioned Rs 10.5 thousand crore and disbursed Rs 8.3 thousand crore.