Banks sanction over Rs 60,000 crore under ECLGS 5.0 as MSME credit demand surges

Banks have sanctioned over Rs 60,000 crore under the ECLGS 5.0 scheme.

ECLGS 5.0 is the government's emergency credit scheme for MSMEs.

PNB, HDFC Bank, and Axis Bank are leading the sanctions.

Mid-sized lenders are also seeing strong traction in disbursals.

The surge in sanctions is driven by rising MSME credit demand.