Only half of the targeted micro, small and medium enterprises have benefited from the government’s Emergency Credit Line Guarantee Scheme even though banks and non-banks have asked for the scheme to be broadened. Of the 4.5 million MSMEs eligible for relief under the scheme launched after the Covid19 outbreak, only 2.4 million, or 53 per cent, have secured loans, according to data collated by financial intelligence provider Crediwatch. There are 64 million MSMEs in India, 99 per cent of which belong to the micro-sector. Loans approved under ECLGS stood at Rs 1.61 lakh crore, or 54 cent of the targeted amount of Rs 3 lakh crore, as of September 3. The amount disbursed was Rs 1.13 lakh crore.
March 25, 2020
February 29, 2020