Emergency Credit Line Guarantee Scheme

In the Union Budget 2022-2023, the government has extended the Emergency Credit Line Guarantee Scheme (ECLGS) till March 2023.

About ECLGS

  • In order to mitigate the stress caused by the COVID-19 pandemic on several sectors across the country, the government had announced an Emergency Credit Line Guarantee Scheme, which incorporates ECLGS 1.0, ECLGS 2.0, ECLGS 3.0 and ECLGS 4.0.

Purpose

  • It aims to provide 100 percent guaranteed coverage to the banks, non-banking financial institutions (NBFCs) and other lending institutions in order to enable them to extend emergency credit to business entities that have suffered due to the COVID-19 pandemic ....
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