Parul
As per the official data, banks have sanctioned 43.5 per cent of the targeted Rs 3 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS) for stressed micro, small and medium enterprises (MSMEs) as on July 23, with sanctions and disbursements rising sharply over the last few weeks.
As per the most recent data, cumulative loan sanctions have risen to Rs 1.30 lakh crore from Rs 1.10 lakh crore on July 1, with both private and state-owned banks stepping up credit deployment. Disbursements as a proportion of the total amount was 27.35 per cent at Rs 82,065 crore as on July 23, up from 17.41 per cent or Rs 52,255 crore as on July 1.
Under the ECLGS scheme, banks are offering up to Rs 3 lakh crore of government-guaranteed loans, an extra 20 per cent of outstanding loans to their MSME borrowers that are non-NPA. The average disbursement per loan account by private banks is nearly 5.6 times that of state-owned banks.
The scheme is open until October 31 or until Rs 3 lakh crore has been is sanctioned, whichever is earlier.
Reports claim that out of the total sanctioned amount of Rs 1.30 lakh crore as on July 23, private sector banks have sanctioned loans worth Rs 58,673 crore; the remaining Rs 71,818 crore has been sanctioned by public sector banks.
On the other hand, the disbursement by private sector banks stood at Rs 34,433 crore; for public sector banks at Rs 47,631 crore. The average disbursement per borrower by private banks was Rs 14.95 lakh, while PSU banks disbursed an average of Rs 2.66 lakh per borrower.
A total 38.19 lakh accounts have been sanctioned loans, while disbursements have been made to 20.16 lakh accounts. The government has targeted 45 lakh units for support under the scheme.
