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Emergency credit scheme to now cover civil aviation, oxygen plants May 30, 2021 In boost to multiple sectors, ₹500-crore debt ceiling for loan eligibility also goes The Government on Sunday expanded the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) by including support for onsite oxygen generation plants and declaring civil aviation as an eligible sector. Also, it has removed eligibility cap of ₹500 crore for certain specified sectors which is expected to benefit hospitality, sporting and multiplex players. “ECLGS 4.0 (the new version of the scheme) guarantee cover for loans up to ₹2 crore will be provided to hospitals/nursing homes/clinics/medical colleges for setting up on-site oxygen generation plants,” a statement issued by the Finance Ministry said. The interest rate for such loan will be capped at 7.5 per cent. ....
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 ....
The industry body has asked the government to standardise and align the tenure and the moratorium facilities floated under ECLGS 1.0, 2.0 and 3.0, FHRAI said in a statement. FHRAI has also asked that the tenure of loan and moratorium facilities granted under the ECLGS 3.0 should be extended to loans already sanctioned under the earlier emergency credit line guarantee schemes with retrospective effect, it added. ....
IATO seeks PM’s intervention to remove anomalies in operational guidelines of ECLGS Updated: Updated: April 28, 2021 17:03 IST ECLGS was launched by the Government of India as a special scheme in view of COVID-19 crisis. Share Article Prime Minister Narendra Modi. File | Photo Credit: PTI ECLGS was launched by the Government of India as a special scheme in view of COVID-19 crisis. The Indian Association of Tour Operators (IATO) on Wednesday said it has written to Prime Minister Narendra Modi seeking his intervention for removing anomalies caused by conditions imposed by NCGTC in the implementation of the Emergency Credit Line Guarantee Scheme (ECLGS). ....
Synopsis Unlike last year, the government says this time it aims to adopt a strategy of creating small containment zones to control the spread of the virus. iStock FISME is to hold discussions with member associations on Wednesday. Following which, it aims to appraise the government on specific issues facing the sector. As pandemic wreaks havoc across small businesses, representatives of the MSME sector have reached out to the government, seeking definite words of assurance on their key challenges. The country s MSMEs are of the view that some clarity on specific issues will help the sector avoid the panic situation faced during the initial days of lockdown-1 announced last year when the country saw a migrant exodus, coupled with soaring financial hardships of small businesses. ....