PSBs sanction loans worth Rs 5.95 lakh cr to agriculture, corporate & MSMEs

New Delhi, May 13 (KNN) Public sector banks (PSBs) have sanctioned loans worth Rs 5.95 lakh crore in the last two months to agriculture, corporate and MSME, amid nationwide lockdown due to COVID-19 crisis.

Finance Minister Nirmala Sitharaman on Tuesday took to the micro-blogging site twitter to announce that a total of Rs 1.18 lakh crore was provided Non-bank finance companies (NBFCs) from PSBs during the period between 1 March and 8 May.

“PSBs sanctioned loans worth Rs 5.95 lakh crore for more than 46.74 lakh accounts from the MSME, Retail, Agriculture & Corporate sectors between March 1 and May 8, 2020. Total financing worth Rs 1.18 lakh crore was provided to NBFCs,” she tweeted.

In another tweet the FM said that between 20 March - 8 May, public sector banks contacted 97 percent of borrowers eligible for emergency credit lines & working capital enhancements and sanctioned loans worth Rs 65,879 crore, up from the Rs 26,500 crore sanctioned as of 4 May.