Hyderabad: The Finance Minister also announced that the Emergency Credit Line Guarantee Scheme (ECLGS) will be extended to cover the next fiscal as well, with expanded guarantee cover of Rs 5 lakh crore. This will help the MSMEs that have been hit by the pandemic, said Mahesh Desai, Chairman of Engineering Export Promotion Council. The […]
Accordingly, the personal loan segment witnessed further improvement in growth at 12.6 per cent YoY, after hitting a 10-year low of 9.1 per cent YoY in January.
The ministry informed that under the Atmanirbhar Bharat Abhiyaan, an Emergency Credit Line Guarantee Scheme was introduced, which was available till October 31 or till the Rs 3-lakh-crore is sanctioned.
CII said that it has recommended this intervention to assist the stressed segments, primarily in the service sectors like hospitality, tourism aviation and retail
It was launched as part of the Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman in May to mitigate the distress caused by coronavirus-induced lockdown
The sources said the objective is to provide support to all those affected and if there are no takers for the scheme, there is no need to extend the scheme even though there is some room left
