HDFC Bank has disbursed a loan of Rs 23504 crore till 25 January 2021 under the Emergency Credit Line Guarantee Scheme (ECLGS), while the State Bank of India has disbursed a loan of only Rs 18700 crore.
To accelerate economic activity after Corona, the government announced an emergency credit line guarantee scheme (ECLGS) of 3 lakh crore. The scheme was announced as a Kovid relief package. Under this, banks provide loans up to 25 crores to MSME, which is guaranteed by the government. HDFC has left SBI behind in distributing this loan.
HDFC Bank has disbursed a loan of Rs 23504 crore till 25 January 2021 under the Emergency Credit Line Guarantee Scheme (ECLGS), while the State Bank of India has disbursed a loan of only Rs 18700 crore. In terms of market share, HDFC has distributed 17 per cent and SBI 13.30 per cent of the total loan. This clearly shows that private sector banks are also distributing loans to small companies. This is good news about economic reform.
The scheme was announced in May 2020
Explain that the ECLGS scheme was announced on 13 May 2020 under a relief package of 20 lakh crores. This scheme was launched in two phases. In the first phase, it was announced to provide loans only to small businesses. In the second phase, big companies were also brought under the purview of this scheme. A detailed report has been published in the Times of India on the extent to which banks have disbursed loans under the ECLGS scheme. According to this report, HDFC is the top in loan sharing and verification.
Which bank issued how much loan
HDFC has collected 43705 crore rupees, while 23504 crore rupees have been distributed. Sections of Rs 25618 crore have been done by SBI, while Rs 18699 crore have been released. ICICI Bank has so far sanctioned 14763 crore loan, while 12982 crore loan has been distributed. Kotak Mahindra has done 11911 crores till date and 5737 crores have been distributed in it. So far, Punjab National Bank has sanctioned a loan of 10998 crores and has issued a loan of 10,104 crores.