Banks disbursed Rs 75,426 crore to coronavirus-hit MSME sector

The Finance Ministry has put out data on loans disbursed under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector, hit hard by the coronavirus-induced lockdown.

According to ministry data, cumulatively public and private sector banks have disbursed Rs 75,426 crore under 100% Emergency Credit Line Guarantee Scheme.

The scheme is the biggest fiscal component of the Rs 20-lakh crore Self-Reliant India Mission package announced by Finance Minister Nirmala Sitharaman last month.

Business units of Tamil Nadu have got the highest cumulative disbursement of Rs 2,625 crore from the banks. It is followed by Maharashtra businesses, which have received a disbursement of Rs 1,883 crore.

State Bank of India (SBI) has sanctioned Rs 16,234 crore, while more than half at Rs 10,960 crore has been disbursed. The SBI is followed by Bank of Baroda which has sanctioned loans worth Rs 5,666 crore, but only Rs 1,719 crore has been disbursed so far.

Canara Bank has a better disbursement rate as against sanction of Rs 4,171 crore, the lender has disbursed Rs 2,132 crore.

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