New Delhi: The government is going all out to ensure that liquidity concerns of the MSME sector are addressed on priority under its Emergency Credit Line Guarantee Scheme (ECLGS).
As part of this, Finance Minister Nirmala Sitharaman on Monday chaired a meeting with private banks and NBFC to take stock of their preparedness to provide liquidity to the sector.
Public sector banks are at the forefront of providing credit to MSMEs. In fact, 12 PSBs have disbursed Rs 14,690.84 crore worth of loans under the scheme upto June 9. But private sector™ performance has been rather slow.
FM Smt. @nsitharaman chairing a meeting through VC with Major Pvt Banks & NBFC to ensure effective roll out of ECLGS and uninterrupted/smooth liquidity to Indian MSMEs in this difficult time, the Finance Ministry tweeted on Monday.