New Delhi: The World Bank has approved a program of more than $ 500 million i.e. 3600 crore rupees to support the initiative of the Government of India to help the MSME sector. On May 30, the government had announced to extend its Emergency Credit Line Guarantee Scheme (ECLGS) of Rs 3 lakh crore by three months. This scheme was extended from 30 June 2021 to 30 September 2021 or till an amount of Rs 3 lakh crore is released.
The Finance Ministry had also announced 100% guarantee on loans up to Rs 2 crore for hospitals, nursing homes, clinics, medical colleges to set up on-site oxygen plants, with an interest rate cap of 7.5 per cent.
The ministry had also announced extension of the scheme period for MSMEs and other units, which are eligible for restructuring and have taken credit under ECLGS 1.0, as per the guidelines dated May 5, 2021.
Total tenor of four years under ECLGS 1.0, which includes repayment of interest in the first 12 months, with which, repayment of principal and interest in 36 months under ECLGS 1.0, can avail a tenure of five years for their ECLGS loan Can take
