PSBs sanction Rs 6.45 lakh crore loan during March-May


New Delhi: The Finance Ministry has stated that public sector banks have sanctioned loans value Rs 6.45 lakh crore during March-May.

Loans value over Rs 6.45 lakh crore have been sanctioned by PSBs during March 1 – May 15 for 54.96 lakh accounts from MSME, Retail, Agriculture & Corporate sectors; A notable improve in comparison with the Rs 5.95 lakh crore sanctioned as of May 8, the Finance Ministry stated.

Public Sector Banks sanctioned over Rs 1.03 lakh crore as emergency credit score strains & working capital enhancements within the interval March 20 to May 15, which is a considerable improve over the Rs 65,879 crore that had been sanctioned as much as May 8.

It could also be famous that with the lockdown coming into impact from March 25, state-owned banks had opened an extra line of credit score of 10 per cent of the present fund primarily based on working capital limits, topic to a most of Rs 200 crore.

India has been below lockdown from March 25 to examine the unfold of coronavirus.  The lockdown has been prolonged until May 31 with some relaxations.

 

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