PIB News Update: Health Sector: Rs. 50,000 crore Aimed at up scaling medical infrastructure targeting underserved areas.
• Guarantee cover for expansion and new projects related to health/medical
infrastructure in cities other than 8 metropolitan cities.
• Guarantee coverage: 50% for expansion & 75% for new projects
• For Aspirational Districts, guarantee cover of 75% for both new projects and
expansion.
• Maximum loan: Rs. 100 crore; Guarantee duration: Up to 3 years
• Interest rate capped at 7.95%
• Guarantee by National Credit Guarantee Trustee Company Limited
Other Sectors: Rs. 60,000 crore
• Interest rate capped at 8.25% p.a.
• Decisions at later stage based on evolving needs
Normal interest without guarantee cover is 10-11%
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Additional 1.5 lakh Cr for Emergency Credit Line Guarantee Scheme
• Launched as part of Atma Nirbhar Bharat Package in May, 2020.
• ECLGS-1.0, 2.0 and 3.0 have resulted in credit disbursal of 2.69 lakh Crore to 1.1
crore units by 12 Public Sector Banks, 25 Private Sector Banks, and 31 Nonbanking Financial Companies
• Contact intensive sectors already covered and shall be continued. Rs 4,000 crore
given to these sectors through this window so far
• Limit of admissible guarantee and loan amount proposed to be increased above
existing level of 20% of outstanding on each loan
• Sector wise details will be finalized as per evolving needs
• Overall cap of admissible guarantee to be raised from Rs. 3 lakh crore to Rs. 4.5
lakh crore
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Credit Guarantee Scheme to Facilitate Loans to 25 Lakh Persons Through Micro Finance Institutions (MFIs)
• Guarantee will be provided to Scheduled Commercial Banks for loans to new or
existing NBFC-MFIs or MFIs for on lending upto Rs 1.25 lakh to approximately 25
lakh small borrowers
• Interest Rate on Loans from banks to be capped at MCLR plus 2%
• Maximum loan tenure 3 years, 80% of assistance to be used by MFI for
incremental lending, interest at least 2% below maximum rate prescribed by RBI
• Focus on new lending, not repayment of old loans
• Loans to borrowers to be in line with extant RBI guidelines such as number of
lenders, borrower to be member of JLG, ceiling on household income & debt
• All borrowers (including defaulters upto 89 days) eligible
• Guarantee cover for funding provided by MLIs to MFIs/NBFC-MFIs till March 31,
2022 or till guarantees for an amount of Rs.7,500 crore are issued, whichever is
earlier.
• Guarantee upto 75% of default amount for upto 3 years through National Credit
Guarantee Trustee Company (NCGTC)
• No guarantee fee to be charged by NCGTC
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