Over 13 lakh MSME loan accounts have been restructured by PSUs: Narayan Tatu Rane
As many as 13.06 lakh MSME loan accounts with an aggregate amount of Rs 55,333 crore have been restructured by public sector banks till June 25 this year, Parliament was informed on Thursday.
Micro, small and medium enterprises (MSME) minister Narayan Rane also said that till July 2, Rs 2.73 lakh crore have been sanctioned under the Emergency Credit Line Guarantee Scheme.
The scheme was launched for an emergency credit line of up to Rs 4.5 lakh crore to businesses including micro, small and medium enterprises (MSMEs) and the same is backed by 100 per cent central government guarantee.
Till June 25 this year, "13.06 lakh MSME loan accounts with an aggregate amount of Rs 55,333 crore have been restructured by public sector banks," he said in a written reply to the Lok Sabha.
In a separate reply, he said since the inception of the Prime Minister's Employment Generation Programme, till July 9, 6,97,612 units have been set up (including those by farmers) with MM (margin money) subsidy of Rs 16,688.17 crore.
Recently, Rane also listed several government initiatives to encourage the sector which is struggling to stay afloat. In a written reply to Rajya Sabha on July 19, he outlined the various schemes, initiatives, and relief packages offered by the government to support MSMEs and help survive the COVID-19 pandemic.
The years 2020 and 2021 have been like no other for the Indian micro, small and medium enterprises (MSME) sector, which contributes about 30 percent to the country’s GDP, and is one of the largest job-creating sectors, second only to agriculture.