Wednesday 10 June 2020

Textile, leather, engineering clusters take maximum loan sanctions under ECLGS scheme

Textile, engineering, leather and infrastructure clusters of Tirupur, Coimbatore, Kanpur and Durgapur have emerged as the torch bearers for government’s initiative to improve investment climate in the country amidst computer engineering careers pandemic.

These industrial clusters have become first among others to promise revival of the economy by putting in additional investments into their respective businesses taking advantage of the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) announced by the government for meeting the liquidity needs of the sector in the present crisis.

Of the Rs 599.12 crore loans disbursed by public sector banks to MSMEs under the scheme, the four industrial clusters have taken the lions share of the money at about Rs 360 crore. Among the four, with Rs 143.76 crore sanctioned to 1,758 accounts, the engineering industrial cluster of Coimbatore had taken the maximum sanctions from banks.

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