Home Business Banks sanction loans worth Rs 3.1 trillion to MSMEs under ECLGS: Sitharaman

Banks sanction loans worth Rs 3.1 trillion to MSMEs under ECLGS: Sitharaman

Table of Contents




Minister on Thursday said have sanctioned loans worth Rs 3.1 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector that was impacted by disruptions due to the coronavirus pandemic.


The scheme has been extended till March 2023.





“Those who still wants to benefit out of it are welcome to use it… the amount of loan sanctioned under the ECLGS is Rs 3.1 lakh crore and guarantee space is still Rs 1.4 lakh crore,” she said in her 100-minute reply to the discussion on Union Budget 2022-23 in Lok Sabha.


As much as Rs 2.36 lakh crore have been disbursed to MSMEs, she said.


She also said that PM Mudra Yojana has created 1.2 crore additional employment since its launch in 2015.


With regard to employment, she said, urban unemployment has declined to pre-pandemic levels due to various efforts of the government.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor





Source link

RELATED ARTICLES

Waldorf Astoria Debuts in Costa Rica

Situated on the dramatic cliffside peninsula of Cacique in Costa Rica’s celebrated Guanacaste province, home to...

Land Rover Open Orders For The 2024 Range Rover Velar

Images courtesy of Land Rover From JustLuxe Content Partner MensGear Carmakers do not necessarily need to way a...

Inside Henry Ford Health’s $2.2B redevelopment in its Detroit campus

Coupled with the residential and retail portion spearheaded by billionaire investor Tom Gores, the area is expected to make a complete transformation. Gores'...

Most Popular

Waldorf Astoria Debuts in Costa Rica

Situated on the dramatic cliffside peninsula of Cacique in Costa Rica’s celebrated Guanacaste province, home to...

Land Rover Open Orders For The 2024 Range Rover Velar

Images courtesy of Land Rover From JustLuxe Content Partner MensGear Carmakers do not necessarily need to way a...

Inside Henry Ford Health’s $2.2B redevelopment in its Detroit campus

Coupled with the residential and retail portion spearheaded by billionaire investor Tom Gores, the area is expected to make a complete transformation. Gores'...

Ferry Guests And Go On Marine Escapades Sans Carbon Emissions Aboard The Falcon E8

Images courtesy of ThirtyC Yacht Design From JustLuxe Content Partner MensGear This year’s Consumer Electronics Show was somewhat...

Recent Comments