As informed by National Credit Guarantee Trustee Company Limited (NCGTC), the implementing agency for Emergency Credit Line Guarantee Scheme (ECLGS), as on 28.2.2021, cumulative sanction of loans stood at ₹ 2.46 lakh crore against which guarantees for a total amount of ₹ 2.14 lakh crore to more than 92.27 lakh borrowers have been issued under ECLGS.

This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today.

The Minister further stated that about 87 lakh MSME units have availed guarantees which constitutes 95% in terms of number of guarantees issued.

Giving more details, the Minister said that there is a pre-approved loan facility with an ‘opt out’ option to all eligible borrowers under ECLGS 1.0. As informed by NCGTC, following steps have been taken:

(i) A portal has been created on the website for the borrowers to lodge their grievances, which is forwarded to MLIs concerned for time bound resolution.

(ii) Email Id for forwarding of grievances / complaints has also been created and circulated, which is being regularly monitored at NCGTC for resolution.

(iii) Meeting with various stakeholders are being conducted regularly to maximise the reach of the scheme.

Emergency credit guarantee scheme expansion: broad MSME guarantee coverage with pre approved loans and grievance channels. Performance data for the Emergency Credit Line Guarantee Scheme (ECLGS) reports extensive deployment of credit guarantees to a very large number of borrowers, with a substantial majority of guarantees issued to MSME units. Operational arrangements include a pre approved loan facility with an 'opt out' option for eligible borrowers and a grievance redress architecture comprising a dedicated portal and email, time bound referral to lending institutions, monitoring by the implementing agency, and regular stakeholder engagement.