Whereas, 8.5 lakh accounts of individual borrowers above Rs 60,000 crore have also been restructured. ”As per the inputs received from Public Sector Banks (PSBs), as on November 26, 2021, the resolution plan/restructuring has been implemented by them in 9.8 lakhs. MSME “An amount of Rs 58,524 crore, and Rs 60,662 crore in 8.5 lakh accounts of individual borrowers,” the Finance Ministry said in a written reply in the Lok Sabha.
government and Reserve bank Taking several measures to support retail and micro, small and medium enterprises (MSME) borrowers in the wake of the pandemic, including a COVID-19 regulatory package, allowing a moratorium of six months on payment of all installments of term loans Has been. Recovery of interest on working capital from March 1, 2020 to August 31, 2020. Under the Emergency Credit Line Guarantee Scheme (ECLGS), which was backed by 100 per cent guarantees from the central government, banks and non-banking financial companies (NBFCs). As per the reply, loans worth Rs 2.97 lakh crore were sanctioned on 26 November 2021.
In addition, the launch of PM Street Vendor’s Atmanirbhar Nidhi (PM SWANIDHI), a credit of Rs 3,054 crore to 30.23 lakh vendors by November 30, 2021 to help the poor street vendors affected by the pandemic to resume their livelihood activities able to access the amount. “PSBs have sanctioned Rs 1,84,046 crore in existing loan accounts under COVID-19 emergency relief schemes for their existing borrowers including MSME borrowers and Self help group, by providing additional credit facility without additional margin/security/or processing fee.
“In addition, the government has launched a nationwide credit outreach program on October 16, 2021, under which banks are organizing special camps across the country to provide loans to eligible borrowers,” the ministry said. According to the report by banks, a total loan amount of Rs 94,063 crore has been sanctioned till 26 November 2021.