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Loan disbursal by PSBs rises to over Rs 29K cr
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SME Times News Bureau | 13 Jun, 2020
Country's largest banking institution State Bank of India leads the pack
of public sector banks in disbursing emergency loans to the industry
and help improve investment climate in the country amidst Covid-19
pandemic.
The bank has cumulatively disbursed loans to the tune
of Rs 8,300.98 crore to 76,947 corporate accounts across the country up
to June 11. The loans have been disbursed under the Rs 3 lakh crore
Emergency Credit Line Guarantee Scheme (ECLGS) announced by the
government for meeting the liquidity needs of the MSME sector in the
present crisis.
The SBI's loan disbursal accounts for over 55 per
cent of Rs 14,690.84 crore disbursed by 12 PSBs under the scheme up to
June 9. The disbursals have picked up pace lately as the amount for
MSMEs stood at Rs 599.12 crore just a day back on June 8.
In a
tweet, the office of finance minister Nirmala Sitharaman said: "As of 11
June 2020, #PSBs have sanctioned loans worth Rs 29,490.81 crore under
the 100 per cent Emergency Credit Line Guarantee Scheme, out of which Rs
14,690.84 crore has already been disbursed."
As per the finance
ministry data, loans have been disbursed to 3,75,087 accounts under
ECLGS showing that a wide spectrum of industries are taking advantage of
the scheme to meet their immediate liquidity needs.
Apart from
SBI, Union Bank of India and Canara Bank have sanctioned over Rs 1,000
crore worth of loans to MSME segment. Also, Punjab National Bank, Bank
of Baroda and Bank of India have sanctioned over Rs 700 crore worth of
loans. Though disbursal from Central Bank of India is relatively lower
as it has distributed the money to large number of accounts at over
68,277.
Bulk of the loan sanctions has gone to industry in the
southern states while industrial sectors in Maharashtra, Uttar Pradesh,
Rajasthan and Gujarat have also received high quantum of loans from
PSBs.
In all PSBs have sanctioned loan under ECLGS to over 7.5
lakh accounts so far while disbursals have been made in case of over
3.75 lakh accounts.
The ECLGS 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.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
|
87.50
|
84.65 |
Euro
|
78.25
|
75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 30 Jun, 2020 |
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