SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 20 Feb, 2023  

Rupee.9.Thmb.jpg Govt to meet bank heads to discuss emergency credit line guarantee scheme

Rupee.9.jpg
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
IANS | 20 Feb, 2023
The government has called a meeting of public sector banks' heads as well as those of four private sector banks, namely HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank, on February 22 to review the emergency credit line guarantee scheme (ECLGS), official sources said.

The meeting would discuss the possibilities of using the schemes to help businesses impacted by the Coronavirus pandemic, the sources said.

To ensure that the ECLGS is helpful for such businesses, the meeting is likely to discuss extending the scheme beyond March 31, 2023.

Banking Secretary Vivek Joshi will chair the meeting.

ECLGS was announced as part of the Atmanirbhar Bharat package in May 2020 and was aimed at helping micro, small, and medium enterprises, as they were impacted by the nation-wide lockdown announced by the government in March that year. Under it, 100 per cent guarantee against any losses due to non-payment of loans, was also provided to banks.

At that time, the ECLGS ceiling was Rs 3 lakh crore, which was later hiked to Rs 4.5 lakh crore. Earlier this month, in the Union Budget, the scheme was extended till March 31, 2023 and the guaranteed cover limit was extended to Rs 5 lakh crore.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter