Banks sanction Rs 2.46 lakh cr loans to 92 lakh borrowers under ECLGS

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Ziraat Times
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New Delhi, March 10: Banks have sanctioned loans worth Rs 2.46 lakh crore to about 92 lakh accounts under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme for the MSME sector, Minister of State for Finance Anurag Thakur on Tuesday said.

As informed by National Credit Guarantee Trustee Company (NCGTC), the implementing agency of Emergency Credit Line Guarantee Scheme, as on February 28, 2021, the amount of loan sanctioned under ECLGS is Rs 2.46 lakh crore, he said in a written reply to the Rajya Sabha.

Further, he said, NCGTC has informed that as on February 28, 2021, guarantees have been issued under ECLGS to 92.27 lakh borrowers, out of which 87.50 lakh borrowers are Micro, Small & Medium Enterprises (MSMEs) and 4.77 lakh borrowers are other business enterprises.

Replying to another question, he said, over 1,10,019 loans have been extended since the launch of the ‘Stand up India’ scheme as on January 31, 2021, since its inception and beneficiaries can get a loan of Rs 10 lakh to Rs 1 crore to start or increase their business.

Giving more details, the minister said Stand Up India Scheme was launched by the government on April 5, 2016, and subsequently extended up to 2025.

“The Scheme facilitates bank loans between Rs 10 lakh and Rs 1 crore to at least one Scheduled Caste/ Scheduled Tribe borrower and at least one woman borrower, per bank branch of Scheduled Commercial Banks (SCBs), for setting up greenfield enterprises in the manufacturing, services or the trading sectors,” he said.

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