eclgs

Credit demand fails to pick up despite aggressive rate cuts

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Credit demand fails to pick up despite aggressive rate cuts

MUMBAI: The year 2020 witnessed bank credit growth remaining 200 basis points lower than a year earlier despite record low interest rates. The average 5.7 percent in the last two fortnights up to Dec. 6 shows compared with 7.9 percent in the last year ame period. Even this slow growth was more due to the … Read more

MSME credit guarantee scheme: Banks disbursement crosses Rs 1 lakh crore-mark

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MSME credit guarantee scheme: Banks disbursement crosses Rs 1 lakh crore-mark

At the same time, sanctioned amount too have surged past Rs 1.50 lakh crore at the end of August 18 under the 100 per cent ECLGS for micro, small and medium enterprises. The finance ministry on Thursday said banks have disbursed more than Rs 1 lakh crore under the Rs 3-lakh crore Emergency Credit Line … Read more