Govt is unlikely to extend the Rs 3 lakh cr credit guarantee scheme for MSME sector beyond October
The Emergency Credit Line Guarantee Scheme has reached only 65% of the targeted amount
The scheme is meant to provide financial aid to MSME impacted by the COVID-19 slowdown
Upper ceiling limits for loans were increased from Rs 25 Cr to Rs 50 Cr earlier
Maximum funding amount of GECL has thus increased from Rs 5 Cr to Rs 10 Cr
Banks and NBFCs have so far approved loans worth about Rs 1,87,579 lakh crore
The scheme will be applicable to all loans sanctioned under GECL facility till the decided deadline
