Sharing an update about Aatma Nirbhar Bharat Scheme, Finance Minister Nirmala Sitharaman on Tuesday tweeted the actual numbers of disbursals and sanctions made to MSMEs under the government backed Credit Guarantee Loans for small businesses.

The FM said that as much as Rs 1.14 Lakhs crore has been sanctioned to various MSMEs under the Scheme, wherein Rs 56,091 crore have already been disbursed as of July 4, 2020. The leading lenders for the scheme have been the State Bank of India, HDFC Bank, Bank of Baroda, Punjab National Bank and Canara Bank.

Both Public sector banks and Private Sector banks are disbursing actively under the scheme, as PSBs have sanctioned loans worth Rs 65,863.63 crore while the private sector banks have sanctioned Rs 48,638.96 crore till first four days of July Month. Furthermore, the PSB have sanctioned loans to more than 32 Lakhs account holders, while the private sector lenders have sanctioned loans to 4.28 Lakhs customers. Finally the disbursal numbers, the PSBs have disbursed loans worth Rs 35,575.48 crore and private lenders have disbursed Rs 20,515.7 crore under the scheme.

As of 4 July 2020, the total amount sanctioned under the 100% Emergency Credit Line Guarantee Scheme by #PSBs and private banks stands at Rs 1,14,502.58 crore, of which Rs 56,091.18 crore has already been disbursed. Here is the break-up: #AatmanirbharBharat #MSMEs pic.twitter.com/ulwdaU1X0x

— NSitharamanOffice (@nsitharamanoffc) July 7, 2020

It is heartening to see that more than 19 Lakhs stressed MSME units have been revamped and restarted post COVID 19 lockdown because of this government scheme.

Under RBI’s Special Liquidity Facility as was announce in March-April, SIDBI has sanctioned over Rs 10,220 crore to NBFCs, micro finance Institutions and banks. The money will be lent to MSMEs & small borrowers.

Also, National Housing Bank has already sanctioned its entire facility of Rs 10,000 crore to HFCs. The refinance schemes by SIDBI and NHB is over and above the ongoing.

Separately under ECLGS scheme, 100 per cent guarantee coverage is granted by National Credit Guarantee Trustee Company (NCGTC) for additional funding of up to Rs 3 Lakh crore to eligible MSMEs and MUDRA borrowers. The concessional rate of 9.25 per cent for the same scheme had been announced on May 21, 2020.

Also Read: 5 Types of Business Loans an Entrepreneur Must Learn About in 2020

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