One crore MSME borrowers given Rs 1.65 lakh cr support under ECLGS
ECLGS was announced as part of the Aatmanirbhar Bharat Package 2020 with an aim to help MSMEs/small businesses meet their operational liabilities and resume businesses in view of the distress caused by the pandemic.
Around 1.09 crore MSME borrowers have been provided with guarantee support of Rs 1.65 lakh crore under Emergency Credit Line Guarantee Scheme (ECLGS), Parliament was informed on Thursday.
ECLGS was announced as part of the Aatmanirbhar Bharat Package 2020 with an aim to help MSMEs/small businesses meet their operational liabilities and resume businesses in view of the distress caused by the pandemic.
See Zee Business Live TV Streaming Below:
Under the scheme, MLIs (Member Lending Institutions) are provided 100 per cent guarantee against any losses suffered due to non-repayment of ECLGS funding by borrowers.
The overall cap of admissible guarantee of ECLGS was raised from Rs 3 lakh crore to Rs 4.5 lakh crore on June 28, 2021.
"Under the ECLGS, around 1.09 crore MSME borrowers have been provided with guarantee support amounting to Rs 1.65 lakh crore as on 02.07.2021," MSME Minister Narayan Rane said in a written reply to the Lok Sabha.
In a separate reply, he said the government has announced that MSME dues should be cleared by government agencies and central public sector enterprises (CPSEs) within 45 days.
"Since May 2020 and up to 26.07.2021, pending payments of Rs 55,863.30 crore have been made to MSMEs," he added.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SBI Green Rupee Deposit 2222 Days vs Canara Bank Green Deposit 2222 Days FD: What Rs 7 lakh and Rs 15 lakh investments will give to general and senior citizens; know here
Power of Compounding: How many years it will take to reach Rs 10 crore corpus through Rs 10,000, Rs 15,000, and Rs 20,000 monthly SIP investments?
Top 7 SBI Mutual Funds With Highest SIP Returns in 15 Years: No. 1 scheme has turned Rs 12,222 monthly SIP investment into Rs 1,54,31,754; know about others too
Highest Senior Citizen FD rates: See what major banks like SBI, PNB, Canara Bank, HDFC Bank, BoB and ICICI Bank are providing on special fixed deposits
08:11 PM IST