Around 12 per cent (Rs 2.2 trillion) of the outstanding MSME credit has been saved from slipping into bad loans because of the Emergency Credit Line Guarantee Scheme (ECLGS) launched by the government during the pandemic, thus saving 16.5 million jobs till November, 2022, according to estimates by the State Bank of India. “Of the 1.46 million MSME (Micro, Small and Medium Enterprises) accounts that have been saved due to the ECLGS, almost 93.8 per cent were in the micro and small category. The trading sector (Kirana shops, etc.) has benefitted the most, followed by food processing, textiles and commercial real estate”, the report by the Economic Research Department of SBI said.