In fact, lending to this sector saw a de-growth of 17 per cent year-on-year, ever since the lockdown was imposed in late March.
Under the ECLGS, the loan amounts sanctioned by PSBs increased to Rs 65,863.63 crore, of which Rs 35,575.48 crore has been disbursed as of July 4.
Under the scheme, 100 per cent guarantee coverage will be provided by National Credit Guarantee Trustee Company (NCGTC) for additional funding of up to Rs 3 lakh crore to eligible MSMEs.
NCGTC is likely to provide 100 per cent guarantee to loans to be given to more than 45 lakh micro, small and medium enterprises (MSMEs) at an attractive rate of 9.25 per cent.
Gadkari’s was a ballpark estimate as there are no firm figures yet amid the Centre pegging its dues to the MSMEs at under Rs 10,000 crore.