Government expands emergency credit line scheme due to Covid-19 Second wave | Government will give 100% guarantee on loan up to 2 crores for setting up oxygen plant in hospital nursing home


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  • Government Expands Emergency Credit Line Scheme Due To Covid 19 Second Wave

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New Delhi28 minutes ago

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The second wave of Corona suffered from a shortage of oxygen.- Symbolic picture.

  • Big step to increase oxygen availability
  • Banks will not be able to take more than 7.5% interest on this loan

In view of the Corona epidemic, the Central Government has extended the scope of Emergency Credit Line Guarantee Scheme (ECLGS) 4.0. The finance ministry said on Sunday that a loan of up to 2 crore rupees will be provided under the ECLGS scheme for setting up an oxygen plant in a hospital, nursing home, clinic or medical college. The government will give 100% guarantee to this loan. Under this scheme, the limit has been fixed on the rate of interest on the loan. No more than 7.5% interest will be charged under the scheme. This move of the government will help in increasing the availability of oxygen.

ECLGS deadline also extended
The Finance Ministry has also extended the application deadline for loans under the ECLGS. Now under this scheme, application can be made till 30 September 2021 or the disbursement of Rs 3 lakh crore. Apart from this, the amount of loan sanctioned can be disbursed till 31 December 2021. The ministry has also included the civil aviation sector in the ECLGS. Also, the terms of loan outstanding under ECLGS 3.0 have been relaxed.


Eligible borrowers can take loans in ECLGS 1.0
According to the Finance Ministry statement, according to the RBI’s Re-Structuring Guidelines dated May 5, 2021, eligible borrowers can take loans under ECLGS 1.0. Under this, the borrowers will have to pay only interest for the first 12 months for a period of 4 years. Whereas the subsequent 36 months interest and principal amount will have to be paid. Under the scheme, the borrowers who are eligible to avail the loan for 5 years, will have to pay only the interest for the first 24 months. At the same time, interest and principal amount will have to be paid in the subsequent 36 months.

Will help in the fight against Corona
Experts say that the government has taken this important step to help in the fight against Corona. With this, hospitals and nursing home operators will get loans for setting up oxygen plants easily and at cheap rates. Let us tell you that due to the lack of oxygen in the second wave of corona, patients and their families have suffered a lot. Many state governments have also made oxygen plants mandatory in hospitals and nursing homes.

Corona epidemic statistics in the country

  • Total new cases came in last 24 hours: 1.65 lakh
  • Total recovered in last 24 hours: 2.64 lakhs
  • Total deaths in last 24 hours: 3,463
  • Total infected so far: 2.78 crores
  • Till now healed: 2.54 crores
  • Total deaths so far: 3.25 lakh
  • Total number of patients currently undergoing treatment: 21.09 Lakh

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