Govt extends Emergency Credit Line Guarantee Scheme to June 30

The scheme, dubbed as ECLGS 3.0, has been extended due to continuing adverse impact of Covid-19 pandemic on certain services sector, says Ministry of Finance

The government has extended the Emergency Credit Line Guarantee Scheme (ECLGS) by another three months, and widened its scope to issue additional funding up to 40 per cent of outstanding loans as on Feb 29, 2020 as against 20 per cent earlier. 

The scheme, dubbed as ECLGS 3.0, has been extended until June 30, or until Rs 3 trillion is disbursed, due to continuing adverse impact of Covid-19 pandemic on certain services sector, Ministry of Finance said in a statement. The collateral free loan guarantee scheme, announced as a part of the Atmanirbhar Bharat package, would now also cover borrowers