Public sector banks sanctioned 5.95 lakh crore loans for various sectors in two months

abstract Public sector banks owed loans of Rs 5.95 lakh crore for the last two months to various sectors including MSME (micro, small and...

abstract

Public sector banks owed loans of Rs 5.95 lakh crore for the last two months to various sectors including MSME (micro, small and medium enterprises), retail, agriculture and corporate affected due to the corona virus epidemic and the ongoing lockdown for its prevention. Approved. 

Detailed

At the same time, Non-Banking Financial Companies (NBFCs) were funded from these banks from March 1 to May 8 with an amount of Rs 1.18 lakh crore.  Finance Minister Nirmala Sitharaman tweeted on Tuesday that, 'Public sector banks (PSBs) have approved lending of Rs 5.85 lakh crore to 46.74 lakh account holders of MSME, retail, agriculture and corporate sector from March 1 to May 8, 2020. . Whereas during this period, Rs 1.18 lakh crore was made available to NBFCs.  10% additional loan based on working capital limit

With the lockdown commencing from 25 March in the country, PSB introduced a 10 per cent additional loan facility based on the working capital limit. Under this, the maximum limit was fixed at Rs 200 crore. In another tweet, Sitharaman said that, 'From March 20 to May 8, PSB approached 97 per cent of the eligible borrowers for emergency lending facility and enhanced working capital limit and they were given loans worth Rs 65,879 crore.' 

Lockdown till May 17 The
central government first announced a nationwide shutdown of 25 days from March 25 for the prevention of corona virus. Thereafter a second phase lockdown was imposed from 15 April to 3 May. In the third phase, the lockdown has been extended from May 4 to May 17 with some relaxation.
 

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Today's Latest news, Know What's happening in India- with Timesnowindia.com: Public sector banks sanctioned 5.95 lakh crore loans for various sectors in two months
Public sector banks sanctioned 5.95 lakh crore loans for various sectors in two months
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