172@29@17@105!~!172@29@0@53!~!|news|business|economy|pnb-sanctions-loans-of-rs-8690-crore-in-404675-accounts-under-eclgs-5514461.html?utm_source=MC_OpeninApp!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false
Moneycontrol
Subscribe to PRO at just Rs.33 per month. Use code SUPERPRO
Last Updated : Jul 06, 2020 08:30 PM IST | Source: PTI

PNB sanctions loans of Rs 8,690 crore in 404,675 accounts under ECLGS

Rao was speaking at a webinar organised to discuss issues related to MSME customers across the country and to address their challenges in the face of the COVID-19 pandemic.

PTI
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

State-owned Punjab National Bank on Monday said it has sanctioned Rs 8,690-crore loans in 404,675 accounts to the MSME sector under the Emergency Credit Line Guarantee Scheme (ECLGS). Of the sanctioned amount, the lender has already disbursed Rs 2,595 crore of loans in 79,029 accounts so far, its Managing Director and CEO S S Mallikarjuna Rao said.

In May, the government announced ECLGS, a 100 per cent credit scheme worth Rs 3 lakh crore to support the micro, small and medium enterprises (MSME) sector, which has been adversely affected by disruptions caused by the coronavirus pandemic.

Rao was speaking at a webinar organised to discuss issues related to MSME customers across the country and to address their challenges in the face of the COVID-19 pandemic.

Close

The objective of the webinar was to educate the bank's customers across the nation about the various products and services made available for their ease.

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show
The bank, through its campaign, 'Each One Reach Ten Each Day', contacted more than one lakh customers, including MSMEs, to update about the COVID-19 schemes on a daily basis.
First Published on Jul 6, 2020 08:29 pm
Sections