Cabinet Approves Emergency Credit Line Guarantee Scheme 5.0
The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 to provide credit guarantee coverage through the National Credit Guarantee Trustee Company Limited. This is aimed at facilitating additional credit support to eligible businesses, including MSMEs and the airline sector, amidst the ongoing West Asia situation. The scheme targets a total additional credit flow of Rs.2,55,000 crore, of which Rs.5,000 crore is earmarked for the airline industry.
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