With a view to supporting the various businesses impacted by the second wave of the COVID-19 pandemic, the Government of India has decided to extend the timeline of the Emergency Credit Line Guarantee Scheme (ECLGS) till March 31, 2022, or till guarantees for an amount of Rs 4.5 lakh crore are issued under the scheme, whichever is earlier, said a press release.
Further, the last date of disbursement under the scheme has also been extended to June 30, 2022, added the Ministry of Finance’s statement.
Earlier the validity of ECLGS was till September 30, 2021, or till guarantees for an amount of Rs. 3 lakh crore is issued while the disbursement under the scheme was permitted up to December 31, 2021, as per the release.