New Delhi: Nearly 17 months after the launch of the Emergency Credit Line Guarantee Scheme (ECLGs), the Bank has provided sanctions of RS 2.76 Lakh Crore, with submission to add Rs 2.14 lakh crore to mid-July.
Similarly, the Svanidhi PM scheme, provides loans of up to 10,000 Rs to street vendors, have seen a slight flow of more than Rs 2,500 Crore to 25 Lakh vendors, although the internal target is more ambitious, with bumpy banks to provide loans.
Although the government has announced an increase in the ECLGS boundary from Rs 3 Lakh Crore to Rs 4.5 Lakh Crore, officials do not expect a large surge, in the middle demanding that feasibility norms be worth to allow more small businesses to use windows.
When the scheme was announced last year, it was intended for micro, small and medium enterprises (MSMEs), but the scope was enlarged later because the request was not enough.
As of July 2, a little less than 1.1 Crore MSME borrowers have provided a guarantee-based support of Rs 1.65 lakh crore, which translates into an average ticket size of Rs 1.5 lakh.
Under the scheme was originally announced, MSMEs who had loans to 50 crore Hospital at the end of February 2020 qualified even with past contributions of up to 60 days.
The MSME industry group says that the condition is in such a way that it is difficult for businesses to get loans.
“The requirements are such that only a set of entities with existing loans who are eligible Small & Medium (FISS).
Recently, the standing parliamentary committee about the industry noted that there was a large gap between sanctions and distribution because the bank was afraid of default after the second wave.