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ECLGS tranches extended up to June 30
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SME Times News Bureau | 01 Apr, 2021
The Centre on Wednesday extended the validity of the Emergency Credit
Line Guarantee Scheme up to June 30, an official statement said.
The
validity of all three tranches of ECLGS have been extended up to June
30, or till guarantees for an amount of Rs 3 lakh crore are issued, said
a Finance Ministry statement.
"Last date of disbursement under the scheme has been extended to September 30," it added.
"The
modifications introduced in the scheme, while providing an incentive to
MLIs to enable availability of additional funding facility to the
eligible beneficiaries, will go a long way in contributing to economic
revival, protecting jobs, and creating conducive environment for
employment generation."
Besides, the Centre enhanced ECLGS 3's
scope by up to 40 per cent of total credit outstanding across all
lending institutions as on February.
"The tenor of loans granted under ECLGS 3.0 shall be 6 years including moratorium period of 2 years."
Earlier,
the Centre had extended the scope of the scheme by introduction of
'ECLGS 3.0' to cover business enterprises in 'Hospitality, Travel and
Tourism, Leisure and Sporting' sectors.
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