PSBs sanction loans worth Rs 10,362 cr under emergency credit scheme

Open division banks have authorized advances worth Rs 10,361.75 crore under the 100 percent Emergency Credit Line Guarantee Scheme, said Finance Minister Nirmala Sitharaman's office on Wednesday.
"Open division banks have just authorized advances worth Rs 10,361.75 crore under the 100% Emergency Credit Line Guarantee Scheme. Out of this, Rs 3,892.78 crore has just been dispensed," Sitharaman's office tweeted.

The Emergency Credit Line Guarantee Scheme (ECLGS) has been defined as a particular reaction to the uncommon circumstance brought about by Covid-19 and the ensuing lockdown, which has seriously affected assembling and different exercises in the MSME area.