{"id":250558,"date":"2021-07-01T09:30:39","date_gmt":"2021-07-01T04:00:39","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=250558"},"modified":"2023-10-03T14:13:08","modified_gmt":"2023-10-03T08:43:08","slug":"covid-19-cabinet-approves-loan-guarantee-and-emergency-credit-line-schemes-for-covid-affected-sectors","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2021\/07\/01\/covid-19-cabinet-approves-loan-guarantee-and-emergency-credit-line-schemes-for-covid-affected-sectors\/","title":{"rendered":"Covid 19 | Cabinet approves Loan Guarantee and Emergency Credit Line Schemes for Covid Affected sectors"},"content":{"rendered":"<p style=\"text-align: justify;\">The Union Cabinet vide <a href=\"https:\/\/pib.gov.in\/PressReleasePage.aspx?PRID=1731455\">Press Release dated June 30,2021<\/a> has announced the approval of Loan Guarantee Scheme for Covid Affected Sectors (LGSCAS) enabling funding to the tune of Rs. 50,000 crores to provide financial guarantee cover for brownfield expansion and greenfield projects related to health\/ medical infrastructure. The Cabinet has also approved introduction of a scheme for other sectors\/lenders including those allied to better healthcare. Detailed modalities would be finalized in due course depending upon the evolving situation.<\/p>\n<p style=\"text-align: justify;\">Another decision by the Cabinet was the approval of additional funding up to Rs. 1,50,000 crores under Emergency Credit Line Guarantee Scheme (ECLGS).<\/p>\n<p style=\"text-align: justify;\">The LGSCAS Scheme would be applicable to all eligible loans sanctioned up to 31.03.2022, or till an amount of Rs. 50,000 crore is sanctioned, whichever is earlier. The ECLGS Scheme would be applicable to all eligible loans sanctioned under Guaranteed Emergency Credit Line (GECL)till 30.09.2021, or till an amount of rupees four lakh fifty thousand crore is sanctioned under the GECL, whichever is earlier.<\/p>\n<hr \/>\n<p><span style=\"color: #000080;\">*Tanvi Singh, Editorial Assistant has put this story together.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Union Cabinet vide Press Release dated June 30,2021 has announced the approval of Loan Guarantee Scheme for Covid Affected Sectors (LGSCAS) <\/p>\n","protected":false},"author":121,"featured_media":209514,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[29535,4],"tags":[],"class_list":["post-250558","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cabinet_decisions","category-legislationupdates"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.4 (Yoast SEO v26.4) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Covid 19 | Cabinet approves Loan Guarantee and Emergency Credit Line Schemes for Covid Affected sectors | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Financial implication: The direct financial implication for the Government is Rs. 5\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":223244,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/13\/cabinet-approves-partial-credit-guarantee-scheme-for-purchase-of-high-rated-pooled-assets-from-financially-sound-nbfcs-hfcs-by-psbs\/","url_meta":{"origin":250558,"position":1},"title":"Cabinet approves &#8220;Partial Credit Guarantee Scheme&#8221; for purchase of high-rated pooled assets from financially sound NBFCs\/HFCs by PSBs","author":"Bhumika Indulia","date":"December 13, 2019","format":false,"excerpt":"Union Cabinet, has given its approval to the following: \"Partial Credit Guarantee Scheme\", to be offered by the Government of India (Gol) to Public Sector Banks (PSBs) for purchasing high-rated pooled assets from financially sound Non-Banking Financial Companies (NBFCs) \/ Housing Finance Companies (HFCs), with the amount of overall guarantee\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":366608,"url":"https:\/\/www.scconline.com\/blog\/post\/2025\/11\/13\/credit-guarantee-scheme-exporters-2025\/","url_meta":{"origin":250558,"position":2},"title":"Union Cabinet Approves \u20b920,000 Crore Credit Guarantee Scheme to Boost Indian Exports and MSMEs","author":"Kriti","date":"November 13, 2025","format":false,"excerpt":"On 12-11-2025, the Union Cabinet approved the Credit Guarantee Scheme for Exporters for providing 100% credit guarantee coverage by National Credit Guarantee Trustee Company Limited to Member Lending Institutions for extending additional credit facilities upto Rs.20,000 crore to eligible exporters, including MSMEs. Importance of Exports for India\u2019s economy: Exports is\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"Credit Guarantee Scheme for Exporters","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/11\/Credit-Guarantee-Scheme-for-Exporters.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/11\/Credit-Guarantee-Scheme-for-Exporters.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/11\/Credit-Guarantee-Scheme-for-Exporters.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/11\/Credit-Guarantee-Scheme-for-Exporters.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":239823,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/11\/28\/covid-19-seeking-waiver-of-interest-for-loan-during-the-moratorium-period-sc-asks-govt-to-implement-decision-to-forego-interest-on-these-8-categories\/","url_meta":{"origin":250558,"position":3},"title":"COVID-19| Seeking waiver of interest on interest for loan during the moratorium period? SC asks Govt to implement decision to forego compound interest on these 8 categories","author":"Prachi Bhardwaj","date":"November 28, 2020","format":false,"excerpt":"Supreme Court: In a breather to customers in the case relating to waiver of interest on loan during the moratorium period, the 3-judge bench of Ashok Bhushan*, R. Subhash Reddy and MR Shah, JJ has directed that all steps to implement the decision dated 23.10.2020 of the Government of India,\u2026","rel":"","context":"In &quot;Case Briefs&quot;","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/11\/sc-07-2.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/11\/sc-07-2.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/11\/sc-07-2.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/11\/sc-07-2.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2020\/11\/sc-07-2.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":215256,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/06\/01\/landmark-decision-taken-in-the-first-cabinet-meeting-of-the-nda-government-offers-pension-coverage-to-crores-of-farmers\/","url_meta":{"origin":250558,"position":4},"title":"Landmark decision taken in the first Cabinet meeting of the NDA Government offers pension coverage to crores of farmers","author":"Bhumika Indulia","date":"June 1, 2019","format":false,"excerpt":"The Union Cabinet, chaired by the Prime Minister Narendra Modi approved a new Central Sector Scheme, a historic decision that will empower farmers across India. This is a path-breaking scheme that will provide pension cover to our industrious farmers who toil day and night to keep our nation fed. It\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":229890,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/05\/20\/cabinet-approves-scheme-for-formalisation-of-micro-food-processing-enterprises\/","url_meta":{"origin":250558,"position":5},"title":"Cabinet approves Scheme for formalisation of Micro Food Processing Enterprises","author":"Bhumika Indulia","date":"May 20, 2020","format":false,"excerpt":"Union Cabinet, has given its approval to a new Centrally Sponsored Scheme - \"Scheme for Formalisation of Micro food processing Enterprises (FME)\" for the Unorganized Sector on All India basis with an outlay of Rs 10,000 crore.\u00a0\u00a0The expenditure will be shared by GOI and the States in ratio of 60:40.\u2026","rel":"","context":"In &quot;Cabinet Decisions&quot;","block_context":{"text":"Cabinet Decisions","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/cabinet_decisions\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/250558","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/121"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=250558"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/250558\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/209514"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=250558"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=250558"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=250558"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}