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Emergency Credit Line Guarantee Scheme (ECLGS)
Emergency Credit Line Guarantee Scheme (ECLGS)Background and Objective
The outbreak of Covid-19 pandemic and following event of social and economic lockdown has brought about a nearly complete halt to all the business activities. The operating cycle in many businesses witnessed sudden cessation as the stocks and payment cycles got stuck completely causing liquidity crisis posing a serious threat to the survival of the businesses.
In its fight to control further damage and support the revival of the business and the economy, the GOI through Ministry of Finance has introduced the Emergency Credit Line Guarantee Scheme (ECLGS), through which the Government is targeting to facilitate MSME sector through Banks and NBFCs/HFCs to provide additional credit to exiting borrowers, thereby enabling these enterprises and MSMEs to meet their operational liabilities and restart their businesses.
Customers are requested to fill the below form to request for EMI Deferment.