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Rs 1.14 lakh crore sanctioned to MSMEs under credit guarantee scheme; SBI, HDFC Bank top lenders

Public sector banks sanctioned Rs 65,863.63 crore to 32,00,430 account holders, of which Rs 35,575.48 crore have already been disbursed; private sector banks sanctioned loans worth Rs 48,638.96 crore to 4,28,014 account holders, of which Rs 20,515.7 crore have already been disbursed

twitter-logoBusinessToday.In | July 7, 2020 | Updated 14:58 IST
Rs 1.14 lakh crore sanctioned to MSMEs under credit guarantee scheme; SBI, HDFC Bank top lenders
Union Finance Minister Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Tuesday said public and private sector banks have sanctioned Rs 1.14 lakh crore under the 100 per cent Credit Guarantee Scheme of the central government, of which Rs 56,091 crore have already been disbursed.

Under the Aatma Nirbhar Bharat scheme, public sector banks sanctioned Rs 65,863.63 crore to 32,00,430 account holders, of which Rs 35,575.48 crore have already been disbursed. Private sector banks sanctioned loans worth Rs 48,638.96 crore to 4,28,014 account holders, of which Rs 20,515.7 crore have already been disbursed.

The top lenders under the scheme are SBI, HDFC Bank, Bank of Baroda, PNB and Canara Bank. The government scheme for stressed MSMEs has helped more than 19 lakh smaller MSME units in restarting businesses post the coronavirus-induced lockdown.

Separately, under RBI's Special Liquidity Facility announced in March-April, SIDBI has sanctioned over Rs 10,220 crore to NBFCs, micro finance Institutions and banks for lending to MSME & small borrowers, the ministry has revealed.

National Housing Bank (NHB) has sanctioned its entire facility of Rs 10,000 crore to housing finance companies. This refinance by SIDBI and NHB is in addition to ongoing schemes, through which over Rs 30,000 crore has been sanctioned.

Under the ECLGS scheme, 100 per cent guarantee coverage will be provided by National Credit Guarantee Trustee Company (NCGTC) for additional funding of up to Rs 3 lakh crore to eligible MSMEs and MUDRA borrowers. The Cabinet had approved additional funding of up to Rs 3 lakh crore at a concessional rate of 9.25 per cent through ECLGS for the MSME sector on May 21.

READ: Banks sanction Rs 79,000 crore loans under Credit Guarantee scheme; Rs 35,000 crore disbursed

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