Rs 4.5 lakh cr ECLGS: Breaking down the mega post-Covid credit guarantee scheme for MSMEs since...

Credit and Finance for MSMEs: As of November 12, 2021, loans amounting to Rs 2.28 lakh crore were disbursed under the Emergency Credit Line Guarantee Scheme (ECLGS) to MSMEs and other businesses, out of Rs 2.82 lakh crore loans sanctioned, as per data from the National Credit Guarantee Trustee Company (NCGTC) cited by the Reserve Bank of India (RBI) in its Financial Stability Report. NCGTC provides guarantee coverage to member lending institutions under the scheme.

According to the break-up in terms of the guarantee amount and size of business, guarantees of value up to Rs 1 crore formed 51 per cent of the aggregate guarantees provided since the launch of the scheme on May 20, 2020.

Rs 1,33,955 crore guarantees were issued to 1.15 crore beneficiaries under less than Rs 1 crore bracket.

Read more at Financial Express