New delhi date. 1. Wednesday, July, 2020
The government had announced a package of Rs 3 lakh crore to provide loans to small and medium enterprises, which have been economically crippled due to the lockdown.
According to the government's finance ministry, a loan of Rs 1 lakh crore has been sanctioned under the scheme in 37 days. Thus, 33 per cent of the target of the package has been met. Out of the loan sanctioned, Rs 45,000 crore has been disbursed.
The package was announced by the finance minister as part of a total package of Rs 20 lakh crore, in which businesses can take up to 20 per cent of their existing loan amount as an additional loan. There is no guarantee for the industry to do so.
According to the government, out of the Rs 1 lakh crore loan, Rs 57,525 crore has been disbursed by public sector banks and Rs 44,325 crore by private sector banks.
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