Public sector banks have sanctioned loans of ₹57,525.47 crore whereas private sector banks have sanctioned loans of ₹44,335.52 crore under ECLGS. The top lenders under the scheme are the State Bank of India (SBI), Bank of Baroda, Punjab National Bank (PNB), Canara Bank and HDFC, according to a ministry of finance release.
As part of the Aatmanirbhar package, the Indian government had announced its plans for ₹3 lakh crore as additional credit to MSMEs and small businesses. Such enterprises were to be eligible to receive up to 20 per cent of their existing borrowing as additional loans at interest rates which were capped.
ALCHEMPro News Desk (RKS)
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