Govt extends ECLGS by one year, expands scope for contact-intensive sectors

Eligible borrowers in hospitality and related sectors, except civil aviation, can avail up to 50% of their highest fund based credit outstanding

The Centre has expanded the scope of Emergency Credit Line Guarantee Scheme (ECLGS) by allowing contact-intensive sectors to avail up to 50 per cent of their credit outstanding as against the earlier limit of 40 per cent, and raising the per borrower cap for civil aviation sector to Rs 400 crore.

The ECLGS scheme has been extended by one year until March 2023, and allows new borrowers in the hospitality and related sectors who have borrowed from March 31, 2021 to January 31, 2022 to avail of funds under the scheme.

Eligible borrowers in hospitality and related sectors, except civil aviation, can