The emergency credit line guarantee scheme worth Rs 3 lakh crore was launched as part of Atmanirbhar Bharat Mission by Union Finance Minister Nirmala Sitaraman after a Cabinet clearance on May 20 to provide credit relief to MSMEs facing immense hardships due to Covid-19 driven lockdowns. The National Credit Guarantee Trustee Company Ltd (NCGTC) runs the ECLGS in which the government provides full loan guarantee to the incremental loans given to borrowers.
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August 02, 2020