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Rs 3-trn relief package for MSMEs to offer pre-approved loans, details out

The loan will be extended in the form of additional working capital term loan facility in case of banks and additional termloan facility in case of NBFCs to eligible MSMEs/ business enterprises

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An 'opt-out' option will be provided to eligible borrowers and if a borrower is not interested in availing the loan, he/she may indicate accordingly

Press Trust of India New Delhi
Select businesses will be offered pre-approved loans as part of the government's Rs 3 trillion package for micro, small and medium enterprises announced two weeks ago.

The Guaranteed Emergency Credit Line (GECL) of Rs 3 trillion was announced as part of Rs 21 trillion package by the government.

As per a set of FAQs, GECL is a loan for which 100 per cent guarantee would be provided by National Credit Guarantee Trustee Company to Member Lending Institutions (MLIs) -- banks, financial institutions and NBFCs.

The FAQs

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First Published: May 28 2020 | 2:32 PM IST

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