Govt’s Emergency Credit Line Guarantee Scheme for MSMEs extended till November 30
The scheme is to provide financial aid to MSMEs impacted by COVID-19 slowdown
Since June 1, loans of Rs 2.03 lakh crore have been sanctioned under the ECLGS
Around 60.67 lakh borrowers have benefited from the scheme, says finance ministry statement
Loans, guaranteed by the central government, are collateral-free
The interest rate is 9.25% for banks and up to 14% for NBFCs
The scheme now covers professionals such as doctors and chartered accountants
Govt has earmarked a corpus of Rs 41,600 crore over the current and the next three financial years
