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Centre Approves Limit of Emergency Credit Line Guarantee Scheme(ECLGS) to 5 Lakh Crore

Centre Approves Limit of Emergency Credit Line Guarantee Scheme(ECLGS) to 5 Lakh Crore
Centre Approves Limit of Emergency Credit Line Guarantee Scheme(ECLGS) to 5 Lakh Crore
  • The Union Cabinet approved the enhancement in the limit of the Emergency Credit Line Guarantee Scheme (ECLGS) by Rs 50,000 crore to Rs 5 lakh crore, with the additional amount being earmarked exclusively for enterprises in hospitality and related sectors. ECLGS is a continuing scheme and the additional amount of Rs. 50,000 crore would be made applicable to enterprises in hospitality and related sectors till validity of the scheme in March 31 next year.
  • The enhancement is expected to provide much-needed relief to enterprises in these sectors by incentivizing lending institutions to provide additional credit of up to Rs 50,000 crore at low cost, enabling these business enterprises to meet their operational liabilities and continue their businesses. Loans of about Rs. 3.67 Lakh crore have been sanctioned under ECLGS till August 5.

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Published date : 18 Aug 2022 05:36PM

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