Staff Reporter / New Delhi
Union Finance minister Nirmala Sitharaman today said that over Rs. 92 thousand crore have already been disbursed under 100 per cent Emergency Credit Line Guarantee(ECLG) Scheme by Public and private sector banks as of Monday.
Government has total sanctioned Rs. 1,37,586 crore. The Scheme would be applicable to all loans sanctioned under ECLG during the period from May 23rd, 2020 to 31st October, 2020, or till an amount of 3 lakh crore rupees is sanctioned.
The scheme was announced with an aim to mitigate the economic distress caused by COVID-19 and the consequent lockdown, and to provide additional credit to the MSMEs and Business Enterprises to meet their operational liabilities and revive their businesses.