Emergency Credit Line Guarantee Scheme (ECLGS)
The Finance Ministry of India introduced a new business loan scheme Emergency Credit Line Guarantee Scheme (ECLGS) in May 2020 to support MSMEs affected by Covid 19. The government has planned to provide Rs. 3 lakh crore of MSME loan to business enterprises that are struggling to get pace in coronavirus lockdown.
The government announced a three-month extension of ECLGS till September 30, 2021.