EMERGENCY CREDIT LINE GUARANTEE SCHEME (ECLGS) 4.0

WHY IN NEWS ? Government has increased the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) for three more months, overviewing the disruptions caused by the second wave of COVID 19 pandemic. Extension will help businesses across several sectors of economy. About ECLGS 4.0 100% guarantee cover to be provided on loans, in hospitals/nursing clinics/medical colleges/homes, up to Rs.2 crore. Loan can be utilized to set up on-site oxygen generation plants. Interest rate on loan was capped at 7.5%. Additional ECLGS assistance of up to 10% of outstanding by February 2020 to borrowers who are covered under ECLGS 1.0.....Read More