Under the 'ECLGS 4.0' scheme, 100% guarantee coverage for loans up to Rs 2 crore has been extended to hospitals, nursing homes, clinics and medical colleges to set up an on-site oxygen production plant. The finance ministry said in a statement that it has set an annual interest rate of 7.5 per cent.
“According to the RBI Guidelines dated May 5, 2021, borrowers who are eligible for a loan restructuring and for a period of four years under 'ECLGS 1' have to pay interest only in the first 12 months.
However, under the ECLGS scheme, a 5 year loan is being offered. You can only pay interest for the first 24 months. The finance ministry said the principal and interest should be paid for the next 36 months.
The validity of the ECLGS has been extended to 30th September 2021. Or Rs 3 lakh crore. The scheme is in effect until the loan is issued. Under the Scheme, loans are allowed up to December 31, 2021.
Under the Emergency Loan Facility Guarantee Scheme (ECLGS), which is being disbursed by the central government's self-financing package for small businesses in the Covid crisis, banks in Karnataka have spent Rs 4,173 crore. The loans were disbursed.
According to the bank's records, 54 per cent of the specified target loans are issued. The project is due to end on October 31st.
For the sake of the small enterprise, the interest rate of Rs. The Union Cabinet has approved an additional emergency facility project. Despite the disbursement of loans by public and private banks, SBI and Canara Bank are in the forefront of lending. A total of Rs. The debt has been disbursed.
For the sake of the small enterprise, the interest rate of Rs. The Union Cabinet has approved an additional emergency facility project. Despite the disbursement of loans by public and private banks, SBI and Canara Bank are in the forefront of lending. A total of Rs. The debt has been disbursed.
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