2166 crores sanctioned for MSMEs – Beautiful Sham Arora

Chandigarh As part of efforts to mitigate the hardships of the industry and provide proactive financial support, Punjab has already sanctioned Rs 2165.53 crore for micro, small and medium scale industries under the Emergency Credit Line Guarantee Scheme (ECLGS) and 1133.93 crore rupees have already been given.
Punjab’s Industries Minister Sundar Sham Arora said that Punjab, under the leadership of Captain Amarinder Singh, holds 94.93 percent of the state’s rank among all the states of India.
The Minister said that there are about 1,64,769 MSMEs eligible loan accounts with an eligible loan amount of Rs.
In view of the ill effects of the Kovid-19 epidemic on various industries / sectors, the Department of Financial Services, Ministry of Finance, Government of India, through National Credit Guarantee Trustee Company Limited (NCGTC), has paid the entire outstanding loan liability of up to 25 crores by February 29, 2020. The Emergency Credit Line Guarantee Scheme (ECLGS) has been introduced to provide 100 percent guarantee coverage for additional working capital term loans up to 20 percent, subject to certain conditions subject to certain conditions subject to a maximum loan amount of Rs 5 crore.
In conclusion, a special request on the request of the Department to grant approval and expedite the disbursement of money as per the target given by the Government of India, 100% approval by July 15, 2020 and 100% distribution by July 31, 2020. SLBC Was called
Accordingly, the boards of various banks have provided the “Guaranteed Emergency Credit Line” (GECL) to provide relief to the affected units to meet their operational liabilities and resume their business. Their new plan has been approved. Financial assistance under this scheme will be covered by guarantee coverage of NCGTC up to 100 per cent.
Many banks in Punjab have started providing financial assistance under this scheme. To coordinate with qualified MSMEs, Financial Institutions and Industrial Associations, the Punjab Government has set up an ECLGS in the Department of Industries and Commerce. Set sail.