Global Statistics

All countries
180,751,311
Confirmed
Updated on June 25, 2021 2:31 am
All countries
163,683,393
Recovered
Updated on June 25, 2021 2:31 am
All countries
3,915,560
Deaths
Updated on June 25, 2021 2:31 am

Global Statistics

All countries
180,751,311
Confirmed
Updated on June 25, 2021 2:31 am
All countries
163,683,393
Recovered
Updated on June 25, 2021 2:31 am
All countries
3,915,560
Deaths
Updated on June 25, 2021 2:31 am

Businessmen can repay loans taken under the big announcement of Finance Ministry – ECLGS in 4 years instead of 4

Digital Desk, New Delhi. The Union Finance Ministry on Sunday expanded the scope of the Emergency Credit Line Guarantee Scheme (ECLGS) amid the economic losses caused by the second wave of the Corona epidemic. Under ECLGS 4.0, 100 percent guarantee will be given on loans up to 2 crore given to hospitals, nursing, homes, clinics, medical colleges for setting up on-site oxygen production plants. Its interest rate has been fixed at 7.5 percent.

The Finance Ministry has said that it has to be redesigned as per the instructions given by RBI.

Those who have borrowed under ECLGS 1.0 for four years. Now they can repay the loan in 5 years instead of 4 years. The government’s scheme was valid till October 2020, after which it was extended to the end of November. Now the principal and interest will have to be repaid in a total of 36 months with interest paid for only 12 months.

Government gave 3 lakh crores to MSME
The Union Finance Ministry has given 3 lakh crore Micro Small and Medium Enterprises (MSME) under the credit line scheme. The government has given 3 lakh crores till September. It has been awarded by 12 public sector, 24 private sector and 31 NBFCS.

Turnover should be within 100 crores
To compensate the economic loss caused to the traders due to Corona epidemic, the government has given this loan to those merchants. Whose turnover is within 100 crores. This loan is to protect against loss in business. The repayment period of the loan is 4 years.

At the same time, no amount has to be paid in the first year. This is the largest package in 20 lakh crores. This entire loan is guaranteed by NCGTC. In April, the government extended the ECLGS to those people. This facility is available for 26 sectors, including health, aviation, corporate, retail to power, cement. Constructions and textiles are all included. A loan of 60 thousand crore rupees in this scheme is still remaining under this scheme.

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