Payment discipline, a must for making ECLGS work
The Cabinet's approval of ECLGS 5.0 is a timely response to geopolitical stress, rising fuel costs, and supply-chain disruptions affecting MSMEs and aviation. With 100 per cent government-backed guarantees, capped rates, and near-automatic sanctions, the scheme continues the borrower-friendly approach of earlier ECLGS versions. ECLGS 1.0, launched in May 2020 for MSMEs, was perhaps the most accessible working-capital facility India…
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