Trade Hits: 2869

Credit guarantee scheme 1.5 crores job saved & aided 13.5L MSMEs: Study By SBI Research

Trade Hits: 2869
Credit guarantee scheme 1.5 crores job saved & aided 13.5L MSMEs: Study By SBI Research
Trade Hits: 2869

07 January, Mumbai: 2022

The emergency credit line guarantee scheme (ECLGS) launched by the government amid the Covid pandemic has helped 13.5 lakh MSME units, saved 1.5 crore jobs and prevented 14% of MSME loans from turning the rest into NPAs, a study by SBI Research has shown.

"We estimate almost 13.5 lakh MSME accounts were saved due to the ECLG scheme (including restructured) 9,602 Almost 93.7% of such accounts are in the micro and small category In absolute terms, MSME loan accounts worth Rs 18 lakh crore were saved from slipping into NPA during the period.

Soumya Kanti Ghosh (@kantisoumya) / Twitter

This is equivalent to 14% of the outstanding MSME credit being saved from becoming NPA," Soumya Kanti Ghosh, group chief advisor, SBI, said in the report.

SOURCE: TOI Dt 07-01-2022 

(The news article has not been edited by DFU Publications staff)

 

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