Almost three months down the line since its announcement, banks have sanctioned almost half of the money promised under the Emergency Credit Line Guarantee Scheme (ECLGS).
Public and private sector banks have sanctioned a bit over Rs 1.5 trillion as on August 18.
As much as Rs three trillion was promised to be lent under the scheme, fully guaranteed by the government.
The lenders have disbursed Rs 1.02 trillion to 2.37 million accounts. The scheme was primarily aimed at the micro, small and medium enterprises (MSMEs), hit hard by lockdowns due to the outbreak of Covid-19.
Source: 12 public sector banks and 24 private sector banks as revealed by the finance ministry (Aug 18)
| Sanctioned -- number of accounts | Disbursed-- number of accounts | Sanctioned-- in Rs crore | Disbursed in Rs crore | |
| Public Sector Banks | 3,356,943 | 2,032,047 | 76,044.44 | 56,483.41 |
| Private Sector Banks | 770,445 | 305,593 | 74,715.02 | 45,762.36 |
| Total | 4,127,488 | 2,337,640 | 150,759.45 | 102,245.77 |