Parul
As per reports, the lenders have sanctioned almost half of the money promised under the Emergency Credit Line Guarantee Scheme (ECLGS) almost three months after its announcement.
As much as Rs 3 trillion was promised to be lent under the Emergency Credit Line Guarantee Scheme (ECLGS), fully guaranteed by the government. Reports claim that the lenders have disbursed Rs 1.02 trillion to 2.37 million accounts.
The public and private sector banks have sanctioned over Rs 1.5 trillion as of August 18.
The scheme was primarily aimed at the micro, small and medium enterprises (MSMEs), hit hard by lockdowns due to the outbreak of the novel coronavirus Covid-19.
