‘Emergency credit guarantee scheme helped save 14.6 lakh MSMEs’
   Date :24-Jan-2023

The emergency credit line guarantee scheme (ECLGS), launched during Covid to help small businesses tide over losses due to lockdowns, has helped save at least 14.6 lakh MSMEs which benefited from Rs 2.2 lakh crore in additional credit, a report said on Monday.
According to an SBI Research analysis, this additional credit flow has saved around 12 per cent of the outstanding MSME (Micro, Small and Medium Enterprises) credit from slipping into NPAs. In terms of people, it saved the livelihood of at least 6.6 crore people, the report said.The ECLGS has helped in boosting credit flow to MSMEs with at least 14.6 lakh of them being saved due to the scheme. Loans worth Rs 2.2 lakh crore were flown into MSMEs from banks during the scheme.