A.P. govt. urges MSMEs to utilise ECLGS 5.0 amid West Asia crisis
The Andhra Pradesh government is encouraging micro, small, and medium enterprises (MSMEs) to take advantage of the newly introduced Emergency Credit Line Guarantee Scheme (ECLGS) 5.0. This scheme aims to provide financial support to industries impacted by the ongoing conflict in West Asia. Eligible MSMEs can access additional credit facilities backed by a government guarantee to help alleviate liquidity stress and enhance their operations.
- ▪The ECLGS 5.0 scheme offers 100% credit guarantee coverage for MSMEs in case of loan default.
- ▪Andhra Pradesh has approximately 20.77 lakh MSME units, with a significant portion in manufacturing and services.
- ▪Borrowers can receive additional loans up to ₹100 crore under the scheme, which applies to loans sanctioned before March 31, 2027.
Opening excerpt (first ~120 words) tap to expand
Andhra Pradesh Minister for MSMEs, SERP, and NRI Empowerment Relations, Kondapalli Srinivas, has welcomed the Centre’s decision to introduce the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 to support the industries affected by the ongoing conflict in West Asia.In a statement issued on Friday, the Minister said the scheme would ensure crucial financial assistance for micro, small and medium enterprises (MSMEs) by extending additional credit facilities backed by a Central government’s guarantee.He said the initiative would help industries overcome liquidity stress and strengthen their operations amid the global uncertainty.Andhra Pradesh currently has around 20.77 lakh MSME units.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at The Hindu — Top.
Discussion
0 commentsMore from The Hindu — Top
