Emergency Credit Line Guarantee Scheme
The Emergency Credit Line Guarantee Scheme was launched May last year by the Central Government to help MSMEs have access to working capital and revive their businesses amid the pandemic. It aims to provide unsecured loan to the struggling small businesses for ensuring their survival during the economic crisis.
Union Finance Minister Nirmala Sitharaman announced enhancement of the scheme to increase its limit by 50 per cent to Rs.4.5 lakh crore. The existing limit of Rs.3 lakh crore was announced as part of the Rs.20 lakh crore Atmanirbhar Bharat Abhiyan package in May 2020. Last month, the scope of this scheme was expanded to include concessional loans to hospitals for setting up on-site oxygen generation plants.