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74% of MSME credit disbursed under ECLGS since pandemic, says SBI

Updated: Jul 07, 2022 12:01:24pm
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74% of MSME credit disbursed under ECLGS since pandemic, says SBI

Mumbai, July 7 (KNN) From the total MSME credit disbursed since March 2020, 74 per cent has been initiated under the Emergency Credit Line Guarantee Scheme (ECLGS) at around Rs 2.36 lakh crore, said State Bank of India’s (SBI’s) latest Ecowrap report on Thursday.

The State owned bank has said that the incremental credit to MSMEs since the beginning of the pandemic (March 2020) has improved witnessing a significant jump of which disbursements under ECLGS) have been the highest.

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“For a like-to-like comparison, if we factor in the interest payments to incremental credit, the growth in pure credit disbursements to MSME sector could be around Rs 3.2 lakh crore since the beginning of the pandemic,” the report noted.  

While 74 per cent of the credit or Rs 2.36 lakh crore is because of the credit guarantee scheme, the remaining 25 per cent is because of other schemes including the revised MSME definition, it added.

In terms of overall credit growth, ECLGS contributed 15 per cent of the expansion, SBI report said.  (KNN Bureau)

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