As part of COVID relief measure, Govt. of India had introduced ECLGS in the month of May 2020 and had issued various operating guidelines with FAQs starting from ECLGS 1.0, 2.0 and 3.0. Under this facility borrower can avail an additional term loan facility depending on the eligibility under the respective ECLGS subject to borrower meeting all other eligibility criteria as per the Scheme.
Here are few important points for you to know:
Under EGLGS 1.0, 2.0 and 3.0, additionally the borrower accounts should be less than or equal to 60 days past due as on 29th February 20 in order to be eligible under the scheme. i.e., they should not have not been classified as SMA 2 or NPA by any of the lender as on 29th February 2020.
For more details visit: www.eclgs.com
To avail this product, contact your relationship manager today.