Banks sanction loans worth Rs 3.1 lakh crore to MSMEs under ECLGS: FM Sitharaman

Finance Minister Nirmala Sitharaman said banks have sanctioned loans worth Rs 3.1 lakh crore under the Emergency Credit Line Guarantee Scheme.  

New Delhi: Finance Minister Nirmala Sitharaman on Thursday said banks have sanctioned loans worth Rs 3.1 lakh crore under the Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector that was impacted by disruptions due to the coronavirus pandemic.

The scheme has been extended till March 2023.

"Those MSMEs who still wants to benefit out of it are welcome to use it... The amount of loan sanctioned under the ECLGS is Rs 3.1 lakh crore and guarantee space is still Rs 1.4 lakh crore," she said in her 100-minute reply to the discussion on Union Budget 2022-23 in Lok Sabha.