The government has sanctioned over Rs 35,000 crore in emergency credit under the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0, aimed at supporting industries impacted by the ongoing crisis in West Asia.
Speaking to reporters in New Delhi, Manoj Muttathil Ayyappan, Joint Secretary in the Department of Financial Services (DFS), said the scheme has seen strong traction since its rollout.
As of May 29, the government had received 2.62 lakh applications under ECLGS 5.0, representing credit demand of Rs 1.71 lakh crore.
Of these, 79,950 applications amounting to Rs 35,194 crore have been sanctioned so far, while guarantees worth Rs 15,720 crore have already been issued.
Ayyappan said the government is closely monitoring implementation of the scheme to ensure timely processing of applications.
(This is a developing story)
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