{"id":12063,"date":"2020-08-04T15:19:26","date_gmt":"2020-08-04T15:19:26","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=12063"},"modified":"2020-08-04T15:19:26","modified_gmt":"2020-08-04T15:19:26","slug":"modi-govts-guarantee-free-loans-for-msmes-these-psu-banks-offer-maximum-credit-to-small-businesses","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=12063","title":{"rendered":"Modi govt\u2019s guarantee-free loans for MSMEs: These PSU banks offer maximum credit to small businesses"},"content":{"rendered":"<p><\/p>\n<div>\n<div class=\"article-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-2026794 size-full\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/SBI.jpg\" alt=\"SBI, state bank of india, india's largest bank, msme loans\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"lazy lazy-hidden wp-image-2026794 size-full\" data-lazy-type=\"image\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/SBI.jpg\" alt=\"SBI, state bank of india, india's largest bank, msme loans\" width=\"660\" height=\"440\" srcset=\"\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-2026794 size-full\" src=\"https:\/\/images.financialexpress.com\/2020\/07\/SBI.jpg\" alt=\"SBI, state bank of india, india's largest bank, msme loans\" width=\"660\" height=\"440\" srcset=\"https:\/\/images.financialexpress.com\/2020\/07\/SBI.jpg 660w, https:\/\/images.financialexpress.com\/2020\/07\/SBI-300x200.jpg 300w, https:\/\/images.financialexpress.com\/2020\/07\/SBI-620x413.jpg 620w, https:\/\/images.financialexpress.com\/2020\/07\/SBI-401x267.jpg 401w, https:\/\/images.financialexpress.com\/2020\/07\/SBI-440x293.jpg 440w, https:\/\/images.financialexpress.com\/2020\/07\/SBI-80x54.jpg 80w, https:\/\/images.financialexpress.com\/2020\/07\/SBI-313x209.jpg 313w\" sizes=\"auto, (max-width: 660px) 100vw, 660px\"\/><\/noscript><\/noscript><span class=\"article-caption\">While private and PSU banks, both have stepped up to disburse loans under ECLGS, the PSU banks have sanctioned more loans than private banks.<\/span><\/figure>\n<\/div>\n<p>Under PM <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/tag\/narendra-modi\/\" rel=\"noopener noreferrer\">Narendra Modi<\/a>\u2019s Atma Nirbhar Bharat Abhiyaan, banks have already sanctioned more than Rs 1.36 lakh to small businesses that are under stress due to the coronavirus pandemic. Finance Minister Nirmala Sitharaman had announced the Emergency Credit Line Guarantee Scheme (ECLGS) for providing liquidity support to MSME, which allowed banks to sanction government-backed guarantee loans up to Rs 3 lakh crore by the end of October 2020. Out of the total amount, 44 per cent of the total target has already been sanctioned, said a report by <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/care-ratings-ltd-stock-price\/\" rel=\"noopener noreferrer\">Care Ratings<\/a>. While private and PSU banks, both have stepped up to disburse loans under ECLGS, the PSU banks have sanctioned more loans than private banks.<\/p>\n<p>24 per cent of the total loans have been sanctioned by the public sector banks, however, they further need to sanction nearly Rs 34,000 crore per month for the next three months to maintain their share in overall bank credit. <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/state-bank-of-india-stock-price\/\" rel=\"noopener noreferrer\">State Bank of India<\/a> (<a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/state-bank-of-india-stock-price\/\" rel=\"noopener noreferrer\">SBI<\/a>) has recorded the maximum cumulative sanctions and disbursements of Rs 21,027 crore and Rs 15,112 crore respectively. After SBI, <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/punjab-national-bank-stock-price\/\" rel=\"noopener noreferrer\">Punjab National Bank<\/a> (<a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/punjab-national-bank-stock-price\/\" rel=\"noopener noreferrer\">PNB<\/a>) has recorded the second-largest cumulative sanctions at Rs 9,464 crore.<\/p>\n<p><strong>Also Read:\u00a0<a href=\"https:\/\/www.financialexpress.com\/economy\/solar-powered-data-centres-soon-this-crucial-change-to-data-center-policy-may-attract-realty-players\/2044055\/\" target=\"_blank\" rel=\"noopener noreferrer\">Solar-powered data centers soon; this crucial change to data center policy may attract realty\u00a0players<\/a><\/strong><\/p>\n<p>Both banks have sanctioned a large number of loans despite SBI and PNB having GNPAs of Rs 25,262 crore and Rs 13,798 crore in the MSME segment. <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/canara-bank-stock-price\/\" rel=\"noopener noreferrer\">Canara Bank<\/a>, <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/bank-of-baroda-stock-price\/\" rel=\"noopener noreferrer\">Bank of Baroda<\/a>, <a target=\"_blank\" href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/union-bank-of-india-stock-price\/\" rel=\"noopener noreferrer\">Union Bank of India<\/a>, and Bank of India have also sanctioned more than Rs 5,000 crore under the scheme so far.<\/p>\n<p>Meanwhile, the revision in definition and eligibility criteria for MSMEs which raised the ceiling to avail the scheme from Rs 100 crore to Rs 250 crore has helped many small businesses in taking advantage of the government\u2019s scheme. The government had also raised the cap on the maximum amount of loans that can be availed under the scheme from Rs 5 crore to Rs 10<br \/>crore.<\/p>\n<div class=\"common-bottom-text\">\n<p>Get live <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/\" target=\"_blank\" rel=\"noopener noreferrer\">Stock Prices<\/a> from <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/s-p-bse-sensex-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">BSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nifty-50-stock-price\/\" target=\"_blank\" rel=\"noopener noreferrer\">NSE<\/a>, <a href=\"https:\/\/www.financialexpress.com\/investing-abroad\/\" target=\"_blank\" rel=\"noopener noreferrer\">US Market<\/a> and latest NAV, portfolio of <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/\" target=\"_blank\" rel=\"noopener noreferrer\">Mutual Funds<\/a>, calculate your tax by <a href=\"https:\/\/www.financialexpress.com\/income-tax-calculator\/\" target=\"_blank\" rel=\"noopener noreferrer\">Income Tax Calculator<\/a>, know market\u2019s <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-gainers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Gainers<\/a>, <a href=\"https:\/\/www.financialexpress.com\/market\/stock-market\/nse-top-losers\/\" target=\"_blank\" rel=\"noopener noreferrer\">Top Losers<\/a> &amp; <a href=\"https:\/\/www.financialexpress.com\/mutual-funds-india\/equity-funds\/\" target=\"_blank\" rel=\"noopener noreferrer\">Best Equity Funds<\/a>. Like us on <a href=\"https:\/\/www.facebook.com\/thefinancialexpress\" target=\"_blank\" rel=\"noopener noreferrer\">Facebook<\/a> and follow us on <a href=\"https:\/\/twitter.com\/FinancialXpress\" target=\"_blank\" rel=\"noopener noreferrer\">Twitter<\/a>.<\/p>\n<p class=\"telegram-text\"><img loading=\"lazy\" decoding=\"async\" class=\"telegrma_img\" src=\"https:\/\/images.financialexpress.com\/2020\/04\/telegram.png\" alt=\"\" width=\"24\" height=\"24\" style=\"margin: 0px 5px 4px 0px; float: left;\"\/>Financial Express is now on Telegram. <a href=\"https:\/\/t.me\/TheFinancialExpressOnline\" target=\"_blank\" rel=\"noopener noreferrer\">Click here to join our channel<\/a> and stay updated with the latest Biz news and updates.<\/p>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\\\"https:\/\/www.financialexpress.com\/industry\/banking-finance\/modi-govts-guarantee-free-loans-for-msmes-these-psu-banks-offer-maximum-credit-to-small-businesses\/2044285\/\\\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>While private and PSU banks, both have stepped up to disburse loans under ECLGS, the PSU banks have sanctioned more loans than private banks. Under PM Narendra Modi\u2019s Atma Nirbhar Bharat Abhiyaan, banks have already sanctioned more than Rs 1.36 lakh to small businesses that are under stress due to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12064,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[36],"tags":[],"class_list":["post-12063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-business"],"jetpack_featured_media_url":"https:\/\/bengalnewstimes.com\/wp-content\/uploads\/2020\/08\/SBI-5.jpg","_links":{"self":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/12063","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=12063"}],"version-history":[{"count":0,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/posts\/12063\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=\/wp\/v2\/media\/12064"}],"wp:attachment":[{"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=12063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=12063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bengalnewstimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=12063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}