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

Finance Minister Nirmala Sitharaman said on Thursday that banks had sanctioned loans worth Rs 3.1 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS) for the construction sector. MSME which has been affected by the disruptions due to the coronavirus pandemic.

The program has been extended until March 2023.

“MSMEs who still wish to benefit from it are welcome to use it… the loan amount sanctioned under the ECLGS is Rs 3.1 lakh crore and the collateral space is still Rs 1.4 lakh crore” , she said in her 100 minutes. response to discussion on Union Budget 2022-23 in Lok Sabha.

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

She also said Prime Minister Mudra Yojana had created 1.2 crore more jobs since its launch in 2015.

Regarding employment, she said, urban unemployment has returned to pre-pandemic levels thanks to various government efforts.

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

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