Micro-, Small and Medium-sized Enterprises Day 27 June
United Nations
declared June 27 as International MSME Day; the resolution was made to recognise the valuable
contribution made by small businesses towards sustainable development
27 June: International MSME Day
PNB sanctions loans of
Rs. 6757 crore to around 3 lakh MSMEs under credit guarantee scheme
Punjab National Bank,
India’s second-largest public sector lender has been one of the top lenders to small businesses
under the government’s emergency credit line guarantee scheme (ECLGS). As of 25th June,
PNB has sanctioned Rs 6757
crore in 296753 eligible MSME accounts under 3 Lakh crore Guaranteed Emergency
Credit Line (GECL) out of which disbursements have been made to 59204 accounts
amounting to Rs 2030 crore.
27th June
is observed as the International Micro, Small and Medium Enterprises (MSME) Day
by the United Nation since 2017. This year’s global theme reflects on “MSMEs:
first responders to societal needs”. Government of India has acknowledged and
focused on the MSMEs as it is the building block of the country; the sector is
also the second largest employer.
Post pandemic reigniting
their operation will bring back vibrancy to the economy and social fabric of
the country
On the occasion of
International MSME Day, Sri S.S. Mallikarjuna Rao, MD & CEO of
Punjab National Bank assured its customers in the statement, “PNB
values its esteemed MSME customers and the bank will stand by them and support
them through this crisis. This year we commit our support to overcome this
crisis and reignite the country’s economy."
Indian MSMEs are in need
of urgent credit to reinitiate their working capital and business operation.
MSMEs have suffered losses and were unable to pay the previous loan because of
the current economic distress. The government have extended a lifeline by giving them 100 per cent guarantee credit
from the date of announcement till 31st October.
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