Centre raises credit limit under ECLGS

10pointer08 Oct, 2022Education

10POINTER- The government has modified the collateral-free emergency credit line guarantee scheme (ECLGS) extending the cheaper loan facility to the civil aviation sector to tide over their current cash-flow problems. The new limit India is currently the 7th largest civil aviation market in the world. It decided to enhance the maximum loan amount eligibility for airlines under ECLGS to 100% of their loan outstanding or ?1,500 crore, whichever is lower, and of the above, ?500 crore shall be considered, based on equity contribution by the owners.