NEW DELHI: The finance ministry on Tuesday said public sector banks (PSBs) sanctioned loans worth ₹5.95 trillion to small businesses, retail, agriculture and corporate sectors during 1 March-8 May. “....Total financing worth ₹1.18 lakh crore was provided to NBFCs (non-banking financial companies)," the ministry said in a tweet.
The finance ministry had earlier said the amount of loan sanctioned during the lockdown indicates that the economy is poised for a recovery.
However, the numbers do not reflect the disbursed amount. These borrowers from micro, small and medium enterprises, retail, agriculture and corporates await the disbursal of loans that will take place soon after lockdown lifts, the ministry had said last week.