Scope of Emergency Credit Line Guarantee Scheme Enlarged

credit line

Keeping in view the Covid pandemic government has further enlarged the scope of Emergency Credit Line Guarantee Scheme.

100 percent guarantee cover is provided under ECLGS 4.0 to loan up to Rs. 2 crores to medical institution for setting up on site oxygen generation plants with an interest rate 7.5 percent.

Borrowers who are eligible for restructuring as per RBI guidelines of 5th May 2021 and had taken loan under ECLGS 1.0 will now be able to avail of five years instead of four years for their ECLGS loan.

Further, current celling of Rs 500 crore of loan outstanding for eligibility under ECLGS 3.0 is to be removed with certain condition.

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