ECLGS: 60% of revised Rs 4.5 lakh cr scheme restrict sanctioned in MSME loans; this a lot quantity disbursed

The scheme has been prolonged a number of occasions from October final 12 months to November adopted by March 2021, June 2021, and presently until September 2021.

Credit score and Finance for MSMEs: Emergency Credit score Line Assure Scheme (ECLGS), which was launched in Might 2020 as a part of the Atmanirbhar Bharat marketing campaign to deal with the liquidity disaster of Covid-hit current MSME debtors, has enabled sanctioning 60.6 per cent of the Rs 4.5 lakh crore scheme restrict. As of July 2, 2021, Rs 2.73 lakh crore in loans was sanctioned, of which Rs 2.14 lakh crore was disbursed by associate banks and NBFCs. Furthermore, ensures have already been issued for loans granted to round 1.09 crore MSMEs, in accordance with the Division of Monetary Companies. The data was shared by the brand new MSME Minister Narayan Tatu Rane in a written reply to a query within the Rajya Sabha on Monday.

The federal government had final month introduced elevating the general cap of admissible assure by Rs 1.5 lakh crore from Rs 3 lakh crore on the time of the scheme’s launch final 12 months to Rs 4.5 lakh crore. ECLGS has already been revised 4 occasions to reinforce its scope and profit MSMEs and different debtors primarily based on the varied business suggestions. As an illustration, MSME items, enterprise enterprises, Mudra debtors, and particular person loans for enterprise objective having mortgage excellent as much as Rs 50 crore and days overdue as much as 60 days as on February 29, 2020 have been eligible below ECLGS 1.0. The scope was enlarged below ECLGS 2.0 with the inclusion of debtors in 26 burdened sectors recognized by the Kamath Committee & the healthcare sector and having mortgage excellent above Rs 50 crore and as much as Rs 500 crore and days overdue as much as 60 days as of February 29, 2020.

Subscribe to Monetary Categorical SME e-newsletter now: Your weekly dose of stories, views, and updates from the world of micro, small, and medium enterprises 

Beneath ECLGS 3.0, the federal government had additional included debtors in hospitality, journey & tourism, leisure & sporting, and civil aviation sectors. Likewise, below ECLGS 4.0, current hospitals, nursing properties, clinics, medical faculties or items engaged in manufacturing of liquid oxygen, oxygen cylinders, and so forth., and having credit score facility with a lending establishment with days overdue as much as 90 days as of March 31, 2021, have been additionally included.

The scheme has been prolonged a number of occasions from October final 12 months to November adopted by March 2021, June 2021, and presently until September 2021, or until ensures for the quantity are issued below the fourth revision of the scheme dubbed ECLGS 4.0. The minister had stated on June 28, 2021, that the federal government had disbursed Rs 2.69 lakh crore to 1.1 crore items by 12 public sector banks, 25 personal sector banks, and 31 non-banking monetary corporations.

Get stay Inventory Costs from BSE, NSE, US Market and newest NAV, portfolio of Mutual Funds, Try newest IPO Information, Finest Performing IPOs, calculate your tax by Revenue Tax Calculator, know market’s Prime Gainers, Prime Losers & Finest Fairness Funds. Like us on Fb and comply with us on Twitter.

Monetary Categorical is now on Telegram. Click on right here to affix our channel and keep up to date with the newest Biz information and updates.


https://www.financialexpress.com/business/sme/msme-eodb-eclgs-60-of-revised-rs-4-5-lakh-cr-scheme-limit-sanctioned-in-msme-loans-this-much-amount-disbursed/2293591/