FM Launches ECLGS 2.0

Finance Minister, Nirmala Sitharaman today announced the ECLGS 2, which is a guaranteed credit for supporting the stressed sectors.

ECLGS scheme will offer additional credit up to 20% of outstanding loan extended till March 31, 2021.

The scheme involves 100 per cent guaranteed collateral free additional credit at capped interest rates. Entities in 26 sectors as identified by the Kamath committee and the healthcare sector with credit outstanding of above Rs 50 crores and upto Rs 500 crores can avail the same.

The tenure for the scheme is 5 years, including moratorium of 1 year on principal amount. The scheme would be available till March 31, 2021.