The Centre’s Emergency Credit Line Guarantee Scheme (ECLGS) has saved almost 13.5 lakh MSMEs worth Rs 1.8 lakh crore from slipping into non-per forming assets (NPA), SBI Research said in a report on Thursday.
“In absolute terms, MSME loan accounts worth Rs 1.8 lakh crore were saved from slipping into NPA during the period,” the report said.
“This is equivalent to 14 percent of the outstanding MSME credit being saved from becoming NPA.”
In May 2020, the Centre launched the ECLGS scheme for the MSME sector to provide relief to the sector amidst the pandemic. Of the 13.5 lakh beneficiaries, over 93 percent were those in micro and small segments, the report said.