ECLGS 2.0: Principal to be paid in 48 installments post 1-yr moratorium

New Delhi, Nov 26 : With the Centre extending the Emergency Credit Line Guarantee Scheme (ECLGS) to 26 sectors, borrowers under the extended programme – ECLGS 2.0 — will have to repay the principal amount in 48 installments after the one-year moratorium.
On Thursday, the National Credit Guarantee Trustee Company Ltd (NCGTC) issued the operational guidelines in this regard.
“The principal shall be repaid in 36 installments under ECLGS 1.0 and in 48 instalments under ECLGS 2.0 after the moratorium period is over,” the guidelines said.
Moratorium period of one year on the principal amount shall be provided to borrowers for the fund-based portion of GECL (guarantee emergency credit line) credit during which interest shall be payable.
The government has extended the ECLGS, through ECLGS 2.0, for the 26 sectors identified by the K.V. Kamath Committee and the healthcare sector.
Under ECLGS 2.0, entities with outstanding credit above Rs 50 crore and not exceeding Rs 500 crore as on February 29 this year, which were less than or equal to 30 days past due as on February 29, are eligible.