PNB sanctions under ECLGS exceed 8000 cr in 4 lac MSME accounts
New Delhi, July 7 (KNN) Punjab National Bank (PNB) has sanctioned Rs 8690 crores in 4,04,675 accounts to the MSME sector under the Emergency Credit Line Guarantee Scheme (ECLGS) of which the lender has already disbursed Rs 2,595 crore of loans in 79,029 accounts so far, said CH SS Mallikarjuna Rao, MD & CEO, PNB.
He said this on Monday while addressing participants in a live “Webinar Townhall with CII” on issues related to MSME customers across the country and to address their challenges in the face of COVID-19 pandemic.
The objective of the webinar was to educate the bank's customers across the nation about the various products and services made available for their ease.
The bank, through its campaign, ''Each One Reach Ten Each Day'', contacted more than one lakh customers, including MSMEs, to update about the COVID-19 schemes on a daily basis.
Along with CH SS Mallikarjuna Rao, Executive Director Agyey Kumar Azad also attended the webinar.
In May, the government announced ECLGS, a 100 per cent credit scheme worth Rs 3 lakh crore to support the micro, small and medium enterprises (MSME) sector, which has been adversely affected by disruptions caused by the coronavirus pandemic.