New Delhi, Sep 25 (TIWN) Banks have so far sanctioned over Rs 1.77 lakh crore to MSMEs under the Emergency Credit Line Guarantee Scheme (ECLGS), it was announced on Thursday.

However, disbursement against the sanctioned amount stood at Rs 1,25,425 crore to 25.74 lakh MSME units till September 21.

The scheme is the biggest fiscal component of the Rs 20 lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May to mitigate the distress caused by the lockdown due to COVID-19 by providing credit to different sectors, especially micro, small and medium enterprises (MSMEs).