shine india monthly magazine

 shine india monthly magazine

shine india monthly magazine Published this article page no  23 GOVERNMENT EXTENDS EMERGENCY CREDIT LINE GUARANTEE SCHEME (ECLGS) TILL MARCH 31 2023 National Credit Guarantee Trustee Company Limited (NCGTC) has issued modifications to operational guidelines for ECLGS 3.0. o Under ECLGS 3.0 business enterprises in hospitality travel and tourism leisure and sporting sectors would be able to avail credit under ECGLS. Major modifications o Increased additional credit support from existing 40% of fundbased credit outstanding to 50% of fund and nonfund based credit outstanding under ECLGS 3.0. o Cap on maximum borrowing by a single MSME from aviation industry has been increased to Rs 400 crore from Rs 200 crore earlier. o Eligible borrowers in civil aviation sector now permitted to avail of nonfund based emergency credit facilities. ECLGS announced in 2020 as one of the key components of Rs 2 trillion economic stimulus package under Aatmanirbhar Bharat Abhiyan. o It aims to provide 100% guaranteed coverage to banks nonbanking financial institutions (NBFCs) in order to enable them to extend emergency credit to business entities in view of Covid19 to meet their additional term loan working capital requirements. o Interest rates are capped at 9.25% for Banks and Financial Institutions (FIs) and 14% for NBFCs shine india monthly magazine onlineshine india monthly magazine subscription buy.

shine india monthly magazine