The government is going to come up with a policy with as much effort as possible, to ensure that liquidity concerns of the MSME (Ministry of Micro, Small and Medium Enterprises)sector are addressed on priority under its ECLGS (Emergency Credit Line Guarantee Scheme).
As part of this, honorable Finance Minister Nirmala Sitharaman on Monday chaired a meeting with private banks and NBFC (Non-Banking Financial Company) to take stock of their preparedness to provide liquidity to the sector.
Public sector banks are at the forefront of providing credit to MSMEs (Ministry of Micro, Small and Medium Enterprises). In fact, 12 PSBs have disbursed Rs 14,690.84 crore worth of loans under the scheme upto June 9. But private sector’s performance has been rather slow
