State-owned banks launched an emergency credit line to provide funds to its existing MSME and corporate borrowers in the last week of March, soon after the lockdown was announced. NEW DELHI : State-owned banks have sanctioned about ₹6.45 lakh crore worth loans to various sectors including MSME, agriculture and retail between March 1 and May 15 when businesses were reeling under the impact of COVID-19 crisis.
Loans sanctioned at the end of May 8 stood at ₹5.95 lakh crore. "Loans worth over ₹6.45 lakh crore were sanctioned by PSBs during March 1 – May 15 for 54.96 lakh accounts from MSME, Retail, Agriculture & Corporate sectors; A notable increase compared to the ₹5.95 lakh crore sanctioned as of May 8," Finance Minister Nirmala Sitharaman