Circular No. ES/176/2021-22 6th October, 2021
To: Members of the Council
The Emergency Credit Line Guarantee Scheme (ECLGS) since its launch, has extended relief to over 1.15 crore Micro, Small and Medium Enterprises (MSMEs) and businesses. It has provided support to eligible borrowers in meeting their operational liabilities and restarting their businesses in the wake of disruptions caused by the COVID-19 pandemic.
The Government has been receiving demands from various Industry bodies and other stakeholders to extend the scheme to ensure continued support to eligible sectors/businesses.
With a view to support various businesses impacted by the second wave of COVID 19 pandemic, it has been decided to extend the timeline of Emergency Credit Line Guarantee Scheme (ECLGS) till 31.03.2022 or till guarantees for an amount of Rs 4.5 lakh crore are issued under the scheme, whichever is earlier. Further, the last date of disbursement under the scheme has also been extended to 30th June, 2022. In this regard, Ministry of Finance has issued a Press Release dated 29th September, 2021.
Following modifications have been made in the scheme to enable support to businesses impacted by the second wave of COVID-
For more details, members may kindly refer to Press Release dated 29th September, 2021.
Members may kindly make a note of the above.