Indian textile, leather clusters among top users of ECLGS

Textile, engineering, leather and infrastructure clusters of Tirupur, Coimbatore, Kanpur and Durgapur are among the top industries pumping additional investments into their businesses by taking advantage of the government’s ₹3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for meeting the liquidity needs of industries during the COVID-19 crisis. Of the ₹599.12 crore loans disbursed by public sector banks to micro, small and medium enterprises (MSMEs) under the scheme, the four industrial clusters have taken the lions share of the money at about ₹360 crore. "As of June 8 2020, #PSBs have sanctioned loans worth ₹1,109.03 cr for #MSME hubs in 12 States under the 100% Emergency Credit Line Guarantee Scheme, of which ₹599.12 cr has already been disbursed to 17,904 accounts," the office of finance minister Nirmala Sitharaman said in a tweet. In terms of sanctions, industrial clusters at Tumkur in Karnataka, Rajkot, Durg in Chhattisgarh, Medak in Telangana, Kanpur, Coimbatore, Tirupur have also emerged as destinations that have most accounts and amounts for getting bank money under ECLGS, according to a news agency report. The Jalandhar industrial cluster has maximum 3,388 accounts that had got loan sanctions from banks, but the amount is a meagre ₹25 lakh. The industrial clusters in Nashik, Nagpur, Tumkur, Surat, Rajkot, Durg, Rourkela, Medak , Aligarh are other centres that have got major portion of bank loans under the scheme. Reference- https://www.fibre2fashion.com/news/textile-news/indian-textile-leather-clusters-among-top-users-of-eclgs-267815-newsdetails.htm