Finance Minister Nirmala Sitharaman reviews Atmanirbhar Bharat progress

New Delhi: Finance minister Nirmala Sitharaman reviewed implementation of the announcements made under the ₹20 lakh crore Atmanirbhar Bharat package on Thursday.
Over ₹1.32 lakh crore of loans have been disbursed to more than 2.7 million non-individuals and individuals under the ₹3 lakh crore Emergency Credit Line Guarantee Scheme by public and private sector banks and non-banking financial companies.

The finance ministry said banks approved the purchase of portfolio of ₹25,505 crore under the ₹45,000 crore Partial Credit Guarantee Scheme for NBFCs, housing finance corporations and microfinance institutions to do fresh lending to micro, small and medium enterprises and individuals. The scheme provides portfolio guarantee for purchase of bonds or commercial paper issued by NBFCs, HFCs and MFIs by public sector banks.

“They are currently in process of approval/negotiations for ₹3,171 crore. As reported by public sector banks on September 25, portfolio of ₹16,401 crore has been purchased,” the ministry said in a statement.

The National Bank for Agriculture and Rural Development has disbursed about ₹25,000 crore of the ₹30,000 crore additional emergency working capital funding for farmers. The agri-bank is finalising operational guidelines to disburse the balance amount under the Special Liquidity Facility allocated by the Reserve Bank of India for smaller NBFCs and NBFC-MFIs.