As per the latest data put out by the RBI, Indian banks have sanctioned Rs.114,000 crore of loans to MSMEs under the credit guarantee scheme announced by the government as part of the COVID relief package. This scheme was specifically targeted at the micro, small and medium enterprises, that were most vulnerable to liquidity and funding constraints.

Within the overall gamut of bank lending, public sector banks sanctioned Rs.65,864 crore under the export credit scheme of which Rs.35,575 crore has been disbursed till date. The total emergency lending limit stands at Rs.300,000 crore but only about one-third has been used till date. Nirma Sitharaman had announced this to ease the woes of MSMEs.

Total disbursements, including that of private banks, stood at Rs.56,091 crore under the scheme. In all, 12 PSBs, 20 private sector banks and 10 NBFCs have participated in this scheme. Private Banks have sanctioned Rs.48,639 crore under this scheme of which Rs.20,516 crore has already been disbursed. As is normal, SBI accounted for bulk of loans.