Government Extends Emergency Credit Scheme for MSMEs

On 30th May, 2021, as a part of its push to bolster the economy amid the second Covid wave, the Union Government expanded the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) to provide more relief to small businesses.

The following amendments and inclusions have been made under the Emergency Credit Line Guarantee Scheme:

  • ECLGS 4.0 guarantee cover for loans up to Rs 2 crore will be provided to hospitals/nursing homes/clinics/medical colleges for setting up on-site oxygen generation plants.
  • The interest rate for such loan will be capped at 7.5 per cent.
  • It has removed eligibility cap of Rs 500 crore for certain ....
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