The Union Cabinet on Tuesday approved the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 to provide additional liquidity support to businesses affected by the ongoing West Asia crisis, Information and Broadcasting Minister Ashwini Vaishnaw said after the meeting.
The latest installment came recently after its Chairman and Managing Director Ajay Singh infused funds into the airline.
The increase has been done on account of the severe disruptions caused by COVID-19 pandemic on hospitality and related enterprises.
The ambit of the scheme was expanded to include MSMEs with turnover of up to Rs 250 crore and individuals for business purposes.
The ECLGS scheme is the biggest fiscal component of the Rs 20-lakh crore Self-Reliant India Mission package announced by Sitharaman last month.
The public sector banks have sanctioned loans worth Rs 32,049.86 crore under the 100 per cent ECLGS, out of which Rs 16,031.39 crore has already been disbursed till June 12.
The scheme is the biggest fiscal component of the Rs 20-lakh crore Aatmanirbhar Bharat Abhiyan package announced by Finance Minister Nirmala Sitharaman last month.
