Tag: ECLGS
Emergency Credit Line Guarantee Scheme (ECLGS) expanded – ECLGS 4.0 for onsite oxygen generation, wider coverage of ECLGS 3.0 and increase in tenorfor ECLGS 1.0
On account of the disruptions caused by the second wave of COVID 19 pandemic to businesses across various sectors of the economy,Government has further enlarged the scope of Emergency Credit Line Guarantee Scheme as under: (i) ECLGS 4.0:100% guarantee cover to loans up to Rs.2 crore to hospitals/nursing homes/clinics/medical colleges for setting up on-site oxygen generation plants, interest rate capped at 7.5%; (ii) Borrowers who are eligible for restructuring as per RBI guidelines of May 05, 2021 and had availed loans under ECLGS 1.0 of overall tenure of four years comprising of repayment of interest only during the first 12 ... Read more