Rs 6,916 cr disbursed to MSME under ECLGS scheme in Gujarat: Report

Ahmedabad, Jan 2 (KNN) Public sector banks have disbursed loans worth Rs 6,916 crore to Micro, Small and Medium Enterprises (MSME) in Gujarat under Emergency Credit Line Guarantee scheme (ECLGS), accounting for around 9 per cent of the total disbursements made across the country, a recent report by the State Level Bankers’ Committee (SLBC) said.

The report also stated that the state ranks fourth in terms of disbursals under the scheme after Tamil Nadu, Maharashtra and Uttar Pradesh.

As per the report, a cumulative amount of Rs 7,842 crore was sanctioned under the scheme till December 4, 2020 and 95,153 MSME units across the state have received the credit, while the number of units given sanctions for credit is 1.54 lakh.

The report further said that MSME advances went up by Rs 10,956 crore which is 9 per cent from Rs 1.28 lakh crore in second quarter of 2019-20 to Rs 1.39 lakh crore in the corresponding period of 2020-21.

According to report about Rs 85,240 crore were sanctioned across the country under the scheme, of which Rs 75,533 crore had been disbursed by December 4 while sanctioned amount and disbursement stood at Rs 7,480 crore and Rs 5,688 crore respectively by September 3, 2020.