Banks yet to clear 20,000 Crore Covid loans sanctioned to MSMEs

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The loans sanctioned under the 100% Emergency Credit Line Guarantee Scheme (ECLGS) as part of the Central government’s Atma Nirbhar Bharat, the Banks have sanctioned loans worth over Rs. 1.5 lakh crore till date.

However, out of the sanction amounts, more than Rs 1 lakh crore has already been disbursed. The ECLGS was announced by the Government as a part of Aatma Nirbhar Bharat Package, to mitigate the distress caused by lockdown due to COVID-19 by providing credit to different sectors, especially MSMEs.

The details of total loans sanctioned and disbursed by Public & Private Sector Banks are as follows:

Under the ECLGS, Public Sector Banks (PSBs) have sanctioned loans of Rs 76,044.44 crore, out of which Rs 56,483.41 crore has already been disbursed. Whereas Private Sector Banks have sanctioned loans of Rs 74,715.02 crore out of which Rs 45,762.36 crore has already been disbursed.

The top lenders under the Scheme are State Bank of India (SBI), Canara Bank, Punjab National Bank (PNB), Bank of India, Union Bank of India and HDFC Bank Ltd.

Details of Loans sanctioned & disbursed by 12 PSBs are as follows:

State-wise details of loans sanctioned and disbursed under ECLGS by PSBs are as follows: