The emergency credit line guarantee scheme ECLGS has been prolonged by the central government till 30th November 2020 or till the duration that Rs 3 lakh crore is being transferred beneath the policy whichever is earlier, seeking the opening of several businesses in the economy and to anticipate an increase in demand in ongoing festivals. Those who have not claimed for the scheme will then be given an opportunity to have credit under the scheme.
As part of the Aatma Nirbhar Bharat Package (ANBP) to give completely promised and collateral-free credit to MSMEs business enterprises 
Get to know the brief guide of MSME registration process in India with key benefits. Also, we mentioned Indian government schemes those catering MSMEs.Read more , individual loans for business purposes, and MUDRA borrowers as declared by ECLGS to extend 20% of credit outstanding dated 29/2/2020.
The withdrawers whose annual turnover is around Rs. 250 cr and whose credit outstanding is Rs 50 cr dated 29/2/2020 are liable beneath the policy. With 9.25% for Banks and FIs, and 14 percent for NBFCs the interest rates are stated under the scheme for NBFCs. The time period declared beneath the policy is 4 years and a 1-year moratorium or principal repayment.
According to the data uploaded through member lending institutions on the ECLGS portal as an amount of Rs 2.03 lakh cr have been transferred beneath the policy to 60.67 lakh borrowers so far in which the amount of Rs 1.48 lakh cr have been transferred.
