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Economy

Government to expand scope of Rs 3 lakh crore MSME Credit Scheme

Updated : August 03, 2020 01:52 PM IST

Banking sources had indicated that over 80 percent of MSME entrepreneurs end up taking business loans in their individual capacity, and are not registered as MSMEs.
The union cabinet had approved ECLGS on May 20, with a corpus of Rs 41,600 crore to help the small entrepreneurs impacted by the pandemic.
As of July 29, lenders had sanctioned Rs 1,36,155 crore under the scheme, out of which Rs 87,227 crore or about 64 percent had been disbursed.

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