Rs 3.61 lakh cr amount of guarantees issued under ECLGS: MoS Finance

New Delhi, Feb 14 (KNN) As on January 31, 2023, guarantees amounting to Rs 3.61 lakh crore have been issued under Emergency Credit Line Guarantee Scheme (ECLGS), benefiting 1.19 crore borrowers, said Union Minister of State for Finance Dr Bhagwat Kisanrao Karad in a written reply to a question in Lok Sabha on Monday.

Sharing the information on the share of MSMEs under ECLGS, he informed that MSMEs have 95.18 per cent share in number of loans guaranteed and 66.16 per cent amount guaranteed which is Rs 2,39,147.53 crore.

The minister stated this as per the information received from National Credit Guarantee Trustee Company Limited (NCGTC), the agency operating the scheme.

ECLGS was launched in May, 2020 as part of Aatmanirbhar Bharat Abhiyaan to support eligible MSMEs and business enterprises in meeting their operational liabilities and restarting their businesses in the context of the disruption caused by the COVID-19 pandemic.

As per a research report dated January 23, 2023 of the State Bank of India on ECLGS, the Minister stated that almost 14.6 lakh MSME accounts, of which about 98.3 per cent of the accounts were in the micro and small enterprises categories, were saved.  (KNN Bureau)