ECLGS scheme enhanced, validity extended till March 2023
Zee News
Further, the coverage, scope and extent of benefits under ECLGS 3.0 pertaining to hospitality, travel, tourism and civil aviation sectors has been expanded, said the Union Finance Ministry.
New Delhi: The 'Emergency Credit Line Guarantee Scheme' (ECLGS) has been extended beyond March 2022, till March 2023.
Accordingly, the ECLGS extension and enhancement announcement which was made by the Union Finance and Corporate Affairs Minister Nirmala Sitharaman in Union Budget 2022-23 was put into effect by the National Credit Guarantee Trustee Company on Wednesday.
Further, the coverage, scope and extent of benefits under ECLGS 3.0 pertaining to hospitality, travel, tourism and civil aviation sectors has been expanded, said the Union Finance Ministry.
"New borrowers in the sectors covered under ECLGS 3.0 who have borrowed after March 31, 2021 and up to January 31, 2022 will also now be eligible to avail of emergency credit facilities under ECLGS 3.0," the ministry said in a statement.
"The extent of emergency credit facilities that may be availed of under ECLGS 3.0 has been increased for eligible borrowers in all sectors covered under ECLGS 3.0. Eligible borrowers in all such sectors (other than the civil aviation sector) are now permitted to avail up to 50 per cent of their highest fund based credit outstanding... This is subject to the existing maximum of Rs 200 crore per borrower."
