Under the ECLGS 4.0, 100 percent guarantee cover will be given to loans up to Rs 2 crore to hospitals, nursing homes, clinics, and medical colleges for setting up on-site oxygen generation plants.
The govt widened the net of the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS), which will now provide concessional loans to hospitals for establishing on-site oxygen generation plants
Appeal to India Finance Minister to clarify credit line guidelines for tourism
6 hours ago
On behalf of the Kerala Tourism Industry, Baby Mathew, President of the Kerala Travel Mart Society, thanked the Government of India for its intervention to help the industry during its worst crisis by introducing ECLGS 3.0, a special credit guarantee window created to cover business enterprises in hospitality, travel and tourism, and leisure and sporting sectors effective March 31, 2021.
The request asks the Hon. Finance Minister of India to investigate the anomalies in the operational guidelines and FAQ.
One of the clauses is inherently contradictory to the proposed spirit of the scheme which is to help borrowers by assessing their accounts on a pre-pandemic status.
Amid second wave, pandemic-hit sectors seek a bailout package from government
April 29, 2021
CREDAI and the Retailers and Tour Operators’ associations have sought help from the govt - Shivendu Jauhari
CREDAI and the Retailers and Tour Operators’ associations have sought help from the govt - Shivendu Jauhari×
Many businesses have reached out to RBI for revamping of loan accounts
Industry players in sectors including tourism, retail and real estate have approached the government seeking a bailout plan as they struggle to survive the second phase of the lockdown. Owing to the uncertainty created by the rising Covid-19 cases, several businesses and financial institutions have already approached the RBI for restructuring of loan accounts to avoid a looming threat of NPAs.
Synopsis SMA-1 borrowers in the healthcare sector and 26 other high stress sectors (as identified by the Kamath Committee) are now eligible under ECLGS 2.0, the finance ministry said in a tweet.
Special Mention Accounts (SMAs) are those which are witnessing stress and can become NPAs/stressed assets.
The finance ministry on Friday expanded the scope of the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) which will now cover borrowers from the healthcare segment, apart from the 26 sectors identified by the Kamath Committee. Last month, the government had extended the scheme by three months till June 30 and expanded its scope to cover enterprises in hospitality, travel and tourism, leisure and sporting sectors.