Govt Extends Emergency Credit Line Guarantee Scheme Till March 31

Govt Extends Emergency Credit Line Guarantee Scheme Till March 31 - Sakshi Post

The scope of the Emergency Credit Line Guarantee Scheme (ECLGS) was extended by the Finance Ministry on September 29 for another six months, until March 2022.

Furthermore, the scheme's final disbursement deadline has been extended until June 30, 2022.

The Emergency Credit Line Guarantee Scheme (ECLGS) has been extended by the Centre till March 31, 2022, or until guarantees totalling 4.5 lakh crore are granted under the scheme, whichever comes first. The deadline for payout has also been pushed back to June 30. According to the Finance Ministry, 2.86 lakh crore in loans has been approved as of September 24, 2021.

Furthermore, the scheme's final payment deadline has been extended until June 30, 2022.

The Rs. 3 lakh crore ECLGS was created to mitigate the impact of the Covid-19 pandemic on several industries across the country. In May 2020, the initiative was introduced as part of the Atmanirbhar Bharat Abhiyan, a Rs. 20 lakh crore Covid-19 relief package.

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