Govt extends emergency credit line guarantee scheme till November 30

Earlier deadline was Oct 31, Under the scheme, 100% guarantee is provided by National Credit Guarantee Trustee Co for additional funding of Rs 3 trillion to borrowers

The National Democratic Alliance (NDA) government on Monday announced extending the time window for businesses to seek sovereign-guaranteed loans under the Emergency Credit Line Guarantee Scheme (ECLGS) by one month till November 30.

The finance ministry said in a statement that it has extended the scheme till the end of this month or “or till such time that an amount of Rs 3 trillion is sanctioned under the Scheme, whichever is earlier, in view of the opening up of various sectors in the economy and the expected increase in demand during the ongoing festive season.” The scheme, in place since