ECLGS 5.0 issues guarantees worth over Rs 2.5 lakh crore

Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 has issued 6,73,979 guarantees covering a guaranteed amount of Rs 2,50,024 crore, an official factsheet said on Saturday.

Micro, small and medium enterprises (MSME) accounted for 97.3 per cent of guarantees by number and 80.79 per cent of the total value.

Emergency Credit Line Guarantee Scheme 5.0, implemented by the National Credit Guarantee Trustee Company, provides targeted credit guarantees to Member Lending Institutions to extend additional working capital to eligible borrowers affected by external disruptions.

It supports MSMEs, eligible non-MSME businesses and scheduled passenger airlines through government-backed guarantees.

The scheme aims to facilitate an additional credit flow of up to Rs 2.55 lakh crore. Borrowers must satisfy the eligibility conditions prescribed by NCGTC, including account status and other applicable lending norms.

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The Hans India