Emergency Credit Line Guarantee Scheme
The Emergency Credit Line Guarantee Scheme was launched in May last year amid the pandemic-led economic crisis. It aims to provide unsecured loans to MSMEs and business entrepreneurs to mitigate the ill effects caused by lockdowns on their businesses.
The Central Government has extended the Rs.4.5 lakh crore scheme until March 31 next year. The scheme was due to expire on September 30. It had assisted 1.15 crore MSMEs till date. As of September 24, the loans sanctioned under this scheme have crossed Rs.2.86 lakh crore. It helped struggling businesses meet operational liabilities and resume business operations.