Govt open to increasing ECLGS headroom depending on demand: DFS Secy
The Department of Financial Services (DFS) Secretary Debasish Panda has said that the government is open to raising the Emergency Credit Line Guarantee Scheme (ECLGS) limit if need be.
The Department of Financial Services (DFS) Secretary Debasish Panda has said that the government is open to raising the Emergency Credit Line Guarantee Scheme (ECLGS) limit if need be.
The government at the moment is very clear that the headroom is sufficient, he told CNBC-TV18. He, however, said that if there is any need in the future, the Centre will be open to increasing the limit.
The Centre and the Indian Banks’ Association (IBA) have together extended the scope of the ECLGS to include lending to the healthcare and aviation sectors.
"On account of the disruptions caused by the second wave of COVID 19 pandemic to businesses across various sectors of the economy, the government has further enlarged the scope of Emergency Credit Line Guarantee Scheme," said the finance ministry on Sunday.
The Rs 3 lakh crore ECLGS will now offer concessional loans to hospitals for setting up on-site oxygen plants. Airlines, airports, and air ambulances can use additional funding facility under the scheme.
The validity of the scheme has also been extended to September 30 and or till guarantees for an amount of Rs 3 lakh crore are issued, said the ministry.
It has extended the last date of disbursement under the scheme to December 31.
Watch the accompanying video of CNBC-TV18’s Sapna Das for more details.
(Edited by : Niral Sharma)
First Published: May 31, 2021 2:48 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
I.N.D.I.A. bloc committed to predictable and stable tax environment: Jairam Ramesh
May 21, 2024 6:33 PM
Exclusive | INDIA bloc will ensure stable policy framework, simple GST, end tax terrorism: Jairam Ramesh
May 21, 2024 5:02 PM
Cong leaders 'failed' to protect party's constitution says FM Nirmala Sitharaman in Bihar
May 21, 2024 4:01 PM
Who will succeed Modi? Oppn thinks Amit Shah will, but PM said this
May 21, 2024 2:38 PM