FM review meet: Loans of Rs 1.32 lakh crore disbursed under key scheme

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October 2, 2020 1:45 AM

According to the latest data, lenders sanctioned loans of Rs 1,86,469 crore under the Emergency Credit Line Guarantee Scheme as of September 29.

Similarly, under a Rs 30,000-crore special liquidity scheme for shadow lenders, 39 proposals involving an amount of Rs 11,120 crore have been approved.Similarly, under a Rs 30,000-crore special liquidity scheme for shadow lenders, 39 proposals involving an amount of Rs 11,120 crore have been approved.

Lenders have disbursed as much as Rs 1,32,246 crore to 2.7 million borrowers under a Rs 3-lakh-crore credit guarantee scheme, which was rolled out on June 1 to help mainly small businesses and professionals tide over the Covid-19 shock.

Finance minister Nirmala Sitharaman on Thursday reviewed the progress of various schemes, announced as part of the Rs 21-lakh-crore Atmanirbhar Bharat relief package in May to soften the blow of the pandemic. MSMEs, farmers and shadow lenders were among the biggest beneficiaries of the package.

According to the latest data, lenders sanctioned loans of Rs 1,86,469 crore under the Emergency Credit Line Guarantee Scheme as of September 29.

Under the Rs 45,000-crore partial credit guarantee scheme (PCGS) 2.0, meant to improve liquidity for low-rated shadow lenders, bonds/commercial papers worth Rs 25,505 crore of these players have been approved for purchases by state-run banks so far, and negotiations for buying such papers worth another Rs 3,171 crore are on.

Similarly, under a Rs 30,000-crore special liquidity scheme for shadow lenders, 39 proposals involving an amount of Rs 11,120 crore have been approved. Of this, Rs 7,227 crore has been disbursed, while the remaining sanctions of Rs 3,707 crore have lapsed. This scheme was closed on Wednesday.

Similarly, as much as Rs 25,000 crore has been disbursed out of a Rs 30,000-crore additional emergency working capital funding for farmers through Nabard. The remaining Rs 5,000 crore under this special liquidity facility has been allocated to Nabard by the central bank for smaller NBFCs and micro-finance institutions.

As for a Rs 2-lakh-crore concessional credit boost to 2.5 crore farmers through Kisan Credit Cards, as many as 58.12 lakh KCC cards with a credit limit of Rs 46,330 crore were sanctioned in the first phase. Another 83.03 lakh KCC cards with credit limit of Rs 79,000 crore were sanctioned as of September 25 under the second phase.

Similarly, to implement a proposed Rs 1,500-crore interest subvention for MUDRA-Shishu loans for small-time entrepreneurs, the government had already made available Rs 1,232 crore for FY21 and Rs 120 crore has been released to Sidbi on September 7.

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