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Loans worth Rs 1.55 lakh cr sanctioned under emergency credit line so far: FinMin

There is an increase of Rs 5,236.17 crore in cumulative amount of loans sanctioned and an increase of Rs 3,681.22 crore in cumulative amount of loans disbursed since August 18

twitter-logoBusinessToday.In | August 26, 2020 | Updated 09:26 IST
Loans worth Rs 1.55 lakh cr sanctioned under emergency credit line so far: FinMin
SBI has sanctioned maximum Rs 23,864.34 crore so far, of which Rs 17,599 crore have already been disbursed

The total amount sanctioned under the 100 per cent Emergency Credit Line Guarantee Scheme by public sector and private banks stand at Rs 1,55,995.62 crore as of 24 August 2020, of which Rs 1,05,926.99 crore has already been disbursed, the Union Ministry of Finance has said.

Public sector banks sanctioned loans to 33,59,149 accounts so far, of which funds to 20,57,762 bank accounts have already been disbursed. Private sector banks sanctioned loans to 8,06,247 accounts and 3,20,046 bank accounts have already received funds.

In total, loans were approved to 41,65,396 accounts, while banks have already disbursed funds to 23,77,808 accounts. Under the scheme, the loan amounts sanctioned by PSBs increased to Rs 76,765.18 crore, of which Rs 58,230.01 crore has been disbursed as of August 24, 2020.

Among PSBs, SBI has sanctioned maximum loans to 5.4 lakh accounts, followed by Canara Bank (4.65 lakh accounts) and Punjab National Bank (4.14 lakh).

SBI has sanctioned maximum Rs 23,864.34 crore so far, of which Rs 17,599 crore have already been disbursed. PNB has sanctioned Rs 10,348.64 crore worth loans, of which Rs 7,621.08 crore have been disbursed. Canara Bank has approved loans worth Rs 8,248.47 crore, of which 6,773.91 crore worth loans have been released.

Compared to August 18, 2020, there is an increase of Rs 5,236.17 crore in the cumulative amount of loans sanctioned and an increase of Rs 3,681.22 crore in the cumulative amount of loans disbursed by both PSBs and private sector banks combined as on August 24.

Also read: Rs 1.23 lakh crore sanctioned to MSMEs under emergency credit line guarantee scheme; SBI top lender

Also read: GST Council may consider proposal to cut tax on two-wheelers

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