ECLGS Scheme Guidelines PDF Download

Emergency Credit Line Guarantee Scheme (ECLGS)

Operational Guidelines updated as on May 30, 2021

1. Name of the Scheme:

The Scheme shall be named as ‘Emergency Credit Line Guarantee Scheme (ECLGS)’. It shall have three components, ECLGS 1.0 , ECLGS 2.0, ECLGS 3.0 and ECLGS 4.0 (hereinafter together referred as the ‘Scheme’).

ECLGS-1.0 refers to the scheme for providing 100% Guarantee to member lendinginstitutions in respect of eligible credit facility extended by them to its borrowers whose total credit outstanding (fund based only) across all lending institutions and days past due as on February 29, 2020 was upto Rs.50 crore and upto 60 days respectively.

ECLGS-2.0 refers to the scheme for providing 100% Guarantee to member lending institutions in respect of eligible credit facility extended by them to its borrowers in the 26 sectors identified by the Kamath Committee on Resolution Framework vide its report dated 04.09.2020 and the Healthcare sector whose total credit outstanding (fund based only) across all lending institutions and days past due as on February 29, 2020 was above Rs.50 crore and not exceeding Rs.500 crore and upto 60 days respectively.

ECLGS 3.0 refers to the scheme for providing 100% guarantee to member lending institutions in respect of eligible credit facility extended by them to its borrowers in the Hospitality (hotels, restaurants, marriage halls, canteens etc.), Travel & Tourism , Leisure & Sporting and Civil Aviation (scheduled and non-scheduled airlines, chartered flight operators, air ambulances and airports) sectors whose days past due are upto 60 days as on 29.02.2020.

ECLGS 4.0 refers to the scheme for providing 100% guarantee to member lending institutions in respect of eligible credit facility extended by them to its eligible hospitals/nursing homes/clinics/medical colleges for setting up of on-site oxygen producing plants;

The credit product for which guarantee would be provided under the Scheme shall be named as ‘Guaranteed Emergency Credit Line (GECL)’.

ECLGS 4.0 Scheme FAQ

INFORMATION OF PDF FILE FOR FREE DOWNLOAD
Title of PDF File	Frequently Asked Questions (FAQs) on Emergency Credit Line Guarantee Scheme of Rs. 3 lakh crore (Updated as on May 30, 2021)
Language of PDF File	English
Size of PDF File	363 KB
No of Pages in PDF File	27

2. Purpose of the Scheme:

To provide 100% guarantee coverage for the GECL assistance of loan outstanding as on 29th February, 2020 to eligible borrowers, in the form of additional term loan /working capital term loan facility (under ECLGS 1.0, 2.0 and 3.0 & 4.0) and/or non-fund based facility (under ECLGS 2.0 & 4.0) in case of banks and Financial Institutions, and additional term loan facility (under ECLGS 1.0, 2.0,3.0 & 4.0), in case of NBFCs, from all Member Lending Institutions (MLIs) to eligible Business Enterprises / Micro, Small and Medium Enterprise (MSME) borrowers, including interested PMMY borrowers, in view of COVID-19 crisis, as a special Scheme.

3. Date of commencement

Scheme shall come into force from the date of issue of these guidelines by NCGTC.

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ECLGS 4.0 PDF

INFORMATION OF PDF FILE FOR FREE DOWNLOAD
Title of PDF File	Emergency Credit Line Guarantee Scheme (ECLGS) Operational Guidelines updated as on May 30, 2021
Language of PDF File	English
Size of PDF File	331 KB
No of Pages in PDF File	16

Emergency Credit Line Guarantee Scheme (ECLGS) expanded – ECLGS 4.0 for onsite oxygen generation, wider coverage of ECLGS 3.0 and increase in tenorfor ECLGS 1.0

On account of the disruptions caused by the second wave of COVID 19 pandemic to businesses across various sectors of the economy,Government has further enlarged the scope of Emergency Credit Line Guarantee Scheme as under:

(i) ECLGS 4.0:100% guarantee cover to loans up to Rs.2 crore to hospitals/nursing homes/clinics/medical colleges for setting up on-site oxygen generation plants, interest rate capped at 7.5%;

(ii) Borrowers who are eligible for restructuring as per RBI guidelines of May 05, 2021 and had availed loans under ECLGS 1.0 of overall tenure of four years comprising of repayment of interest only during the first 12 months withrepayment of principal and interest in 36 months thereafter will now be able to avail a tenure of five years for their ECLGS loan i.e. repayment of interest only for the first 24 months with repayment of principal and interest in 36 months thereafter;

(iii) Additional ECLGS assistance of upto 10% of the outstanding as on February 29, 2020 to borrowers covered under ECLGS 1.0, in tandem with restructuring as per RBI guidelines of May 05, 2021;

(iv) Current ceiling of Rs. 500 Cr. of loan outstanding for eligibility under ECLGS 3.0 to be removed, subject to maximum additional ECLGS assistance to each borrower being limited to 40% or Rs.200 crore, whichever is lower;

(v) Civil Aviation sector to be eligible under ECLGS 3.0

(vi) Validity of ECLGS extended to 30.09.2021 or till guarantees for an amount of Rs.3 lakh crore are issued.Disbursement under the scheme permitted up to 31.12.2021.

The modifications in ECLGS, would enhance the utility and impact of ECLGS by providing additional support to MSMEs, safeguarding livelihoods and helping in seamless resumption of business activity. These changes will further facilitate flow of institutional credit at reasonable terms.

Detailed operational guidelines in this regard are being separately issued by the National Credit Guarantee Trustee Company (NCGTC).