The Department of Financial Services said in a tweet that the scope of Emergency Credit Line Guarantee Scheme (ECLGS) 2.0 has now been extended to cover the Special Mention Accounts- 1 (SMA). The DFS took to Twitter and wrote, “Scope of ECLGS 2.0 expanded! SMA-1 borrowers in the healthcare sector and 26 other high stress […]
Tag Archives: Emergency Credit Line Guarantee Scheme
MSME Credit Moves Towards Pre-Pandemic Levels, Witnesses a Growth of 5.7%: Report
The latest MSME Pulse Report by TansUnion CIBIL shows that the credit in the Micro, Small and Medium Enterprises have witnessed a growth owing to the support of central government’s Emergency Credit Line Guarantee Scheme (ECLGS). As per the recent report, the MSME credit grew by 5.7 per cent YoY and around 3.5 QoQ in […]
Credit Guarantee Scheme For MSME Sector Unlikely to be Extended Beyond October 2020
New Delhi, October 19: The Narendra Modi government is unlikely to extend the Rs 3 lakh crore-Emergency Credit Line Guarantee Scheme (ECLGS) for MSME sector beyond October. According to a PTI report, this scheme is meant to provide financial support to businesses, primarily Micro, Small and Medium Enterprises (MSMEs), impacted by slowdown triggered by the […]
Credit Guarantee Scheme: Banks Sanction Rs 1.86 Lakh Cr to 50 Lakh MSMEs Impacted by Slowdown Amid COVID-19 Pandemic
New Delhi, October 17: The Finance Ministry announced that banks have sanctioned loans of about Rs 1.86 lakh crore to 50 lakh business units under the Rs 3-lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) for the MSME sector, those who have been affected by a slowdown due to the coronavirus pandemic. According to a report […]
Finance Ministry Sanctions Rs 1.61 Lakh Crore Worth of Bank Loans to MSMEs Under ECLGS to Battle COVID-19 Pandemic
New Delhi, September 8: Union Finance Minister Nirmala Sitharaman on Monday announced that the Central government had so far sanctioned loans amounting to Rs 1.61 lakh crore to MSMEs under the Emergency Credit Line Guarantee Scheme (ECLGS). The amount has been sanctioned as a component of the Rs 20-lakh crore Self-Reliant India Mission package, announced […]