Finance Minister Said 1.87 Lakh Crore Loan Allocation To MSME

Finance Minister said 1.87 lakh crore loan allocation to MSME so far, disbursed Rs 1,36,140 crore till October 5.

In another tweet, the Finance Minister said that 33 stalled residential projects involving an investment of Rs 4197 crore have been given final approval under the Special Window for Affordable and Mid-Income Housing (Swamih) Scheme.

The finance ministry said on Thursday that banks have allocated Rs 1,87,579 crore to 50.7 lakh companies under the Emergency Credit Facility Guarantee Scheme (ECLGS) to MSMEs. Out of this, a total of Rs 1,36,140 crore has been disbursed to 27 lakh MSME units till October 5.

Under this scheme, the government has set a target of disbursing Rs 3 lakh crore to MSMEs by October 31 this year. It is part of a package of over Rs 20 lakh crore announced under the government’s Self-Reliant India Campaign.

Finance Minister Nirmala Sitharaman announced the package in May. Finance Minister Nirmala Sitharaman wrote on Twitter that as of October 5, 2020, under the ECLGS, public and private banks and NBFCs have lent Rs 1,87,579 crore on MSME and individual level Is approved.

Out of this, Rs 1,36,140 crore has been disbursed. Under this scheme, all 12 government banks, 24 private sector banks, and 31 NBFCs are disbursing loans.

According to the minister, the amount of loan sanctioned by public sector banks (PSBs) until October 5 increased to Rs 81,648.82 crore. Out of this, 68,814.43 crores has been disbursed.

At the same time, private sector banks have approved a loan of Rs 86,576 crore, while disbursement of a loan of Rs 59,740 crore. NBFCs sanctioned Rs 3,032 crore during this period, while disbursement of Rs 2,227 crore has been done.

Rs 4,197 crore sanctioned for 33 housing projects

In another tweet, the Finance Minister said that 33 stuck housing projects involving an investment of Rs 4,197 crore have been given final approval under the Special Window for Affordable and Mid-Income Housing (Swamih) Scheme.

Of these, the construction work of 25,048 housing units will be completed. The Finance Minister said that 123 projects have been approved so far with an investment of Rs 12,079 crore. This will provide relief to 81,308 home buyers.