The Emergency Credit Line Guarantee Scheme has been granted a three-month extension and will now be valid till September 30. The Finance Ministry has enlarged the scope of the ₹3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) to cover loans up to ₹ 2 crore for setting up on-site oxygen generation plants at healthcare facilities and brought in the ailing civil aviation sector under its ambit. With the capital intensive-aviation sector under the scheme, the government has also dropped the ₹ 500 crore loan outstanding limit for availing emergency credit. The National Credit Guarantee Trustee Company is expected to issue detailed operational guidelines on the scheme. The original ELCGS provides additional working capital finance for 20% of a borrower’s outstanding credit as on February 29, 2020.

Source: The Hindu May 30, 2021 07:06 UTC