Government extends Emergency Credit Line Guarantee Scheme by one year until March 2023
- Central Government has extended the Emergency Credit Line Guarantee Scheme (ECLGS) by one year, beyond March 2022 until March 2023.
- The total amount to be sanctioned under the ECLGS 3.0 scheme has also been increased from Rs 4.5 lakh crore to Rs 5 lakh crore.
- As on March 25, 2022, Rs 3.19 trillion loans has been sanctioned under the ECLGS scheme.
- The ECLGS was announced as part of the Aatma Nirbhar Bharat Package of Central Government to provide fully guaranteed and collateral-free additional credit to MSMEs, business enterprises, individual loans for business purposes and MUDRA borrowers.
Points to Remember:
- Total amount to be sanctioned under the Emergency Credit Line Guarantee Scheme (ECLGS) 3.0?- Rs 3 lakh crore
- ECLGS 3.0 will be effective till_________? March 2023
Source: PIB; Business Standard