Mumbai, Aug 20 (PTI) Banks cumulatively have been able to disburse only one-third of the Rs 3-lakh crore target to small businesses under the Emergency Credit Line Guarantee Scheme (ECLGS), and sanctions have managed to cross the halfway mark so far, according to data collated by CARE Ratings.

The ECLGS was announced on May 21 as part of the over Rs 20-lakh crore credit support that the government and the RBI unveiled as part of the Aatmanirbhar Bharat package. The scheme ends by October 31.

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Till August 18, public and private sector banks cumulatively sanctioned Rs 1,50,759 crore to 41.27 lakh MSME (micro, small and medium enterprise) accounts and disbursed Rs 1,02,246 crore to 23.37 lakh accounts under the scheme, the rating agency said on Thursday.

Of this, state-owned banks' share in sanctions is 50 per cent; and in disbursement, it is 55 per cent, it added.

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Public sector banks (PSBs) have sanctioned Rs 76,044 crore to 33.56 lakh accounts and disbursed Rs 56,483 crore to 20.32 lakh accounts, private sector banks sanctioned Rs 74,715 crore to 7.70 lakh accounts and disbursed Rs 45,762 crore to 3.05 lakh accounts, taking the total sanctions to Rs 1,50,759 crore and disbursals to Rs 1,02,246 crore. This shows that the average ticket size of the private sector banks is more than three times that of the public sector lenders.

When it comes to individual banks, State Bank of India leads the pack with sanctions at Rs 23,459 crore and disbursements at Rs 17,095 crore, which is just 1 per cent and 0.7 per cent of its total loan book and 8.4 per cent and 6.1 per cent, respectively, of its MSME book.

At the second slot is Punjab National Bank with Rs 10,218 crore in sanctions and Rs 7,197 crore in disbursements, followed by Canara Bank (Rs 8,247 crore and Rs 6,556 crore, respectively).

The maximum sanctions are in Maharashtra and Tamil Nadu at Rs 7,756 crore and Rs 7,740 crore, respectively, and so are disbursements that stood at Rs 6,007 crore and Rs 5,694 crore respectively, as of August 18, according to the report. PTI BEN

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)