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of <h1>ECLGS Supports 1.19 Crore Borrowers with Rs 3.61 Lakh Crore Guarantees, Boosts MSME Credit Growth by 30.6.</h1> The Emergency Credit Line Guarantee Scheme (ECLGS), launched in May 2020, has benefited 1.19 crore borrowers with guarantees totaling Rs 3.61 lakh crore as of January 31, 2023. The scheme, part of the Aatmanirbhar Bharat Abhiyaan, aims to support MSMEs and businesses affected by the COVID-19 pandemic. It has notably saved 14.6 lakh MSME accounts from becoming non-performing assets. Credit growth in the MSME sector has exceeded 30.6% during January-November 2022, aided by ECLGS. Additional measures include revised MSME classification, Udyam Registration, and initiatives like the Pradhan Mantri Mudra Yojana and psbloansin59minutes Portal.
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