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Slowdown in loans sanctioned to struggling companies, MSMEs
There has been some slowdown in loans sanctioned to struggling companies and micro, small and medium enterprises (MSMEs) over the months of October and November below the ₹three lakh crore emergency credit score assure scheme introduced by the federal government in May this 12 months.
In its first three months of operations, the Emergency Credit Line Guarantee Scheme (ECLGS) Fund had led to sanction of sentimental time period loans of ₹1.86 lakh crore, of which ₹1.32 lakh crore had been disbursed to ₹27.09 lakh debtors by September 29.
Between September 29 and December 4, loans sanctioned below the scheme rose by simply ₹19,094 crore to a little bit over ₹2.05 lakh crore. These sanctions pertain to 80.93 lakh accounts.
Disbursals throughout this era elevated by ₹26,380 crore with over 13.Four lakh extra debtors benefiting, taking the full quantity paid out below the scheme to just about ₹1.59 lakh crore. The complete debtors receiving funds below the scheme now stand at 40.49 lakh.