News Snapshot:
At least 14.6 lakh micro, small and medium enterprises (MSMEs) accounts were saved due to the Emergency Credit Line Guarantee Scheme (ECLGS) launched by the government during the pandemic, thus saving millions of jobs till November, 2022, according to estimates made by a State Bank of India research report. “In absolute terms, MSME loan accounts worth Rs 2.2 lakh crore have improved since the inception of ECLGS for the entire banking industry. This means that around 12 per cent of the outstanding MSME credit has been saved from slipping into NPA because of the ECLG scheme,” SBI said in a...
