Connect with us

Latest News

Emergency credit scheme for MSMEs extended till 31 March 2022

Published

on

In order to support Covid-hit MSMEs further, the Centre on Wednesday announced an extension of its Emergency Credit Line Guarantee Scheme (ECLGS) till 31 March 2022, or till guarantees for an amount of 4.5 lakh crore are issued under the scheme, whichever is earlier.

The Ministry of Finance also announced that the date of disbursement under the scheme has also been extended to 30 June 2022. Government has been receiving demands from various Industry bodies and other stakeholders to extend the scheme to ensure continued support to eligible sectors/businesses,” the ministry said in a statement.

The government laid out the following modifications in the scheme for MSMEs:

-Existing borrowers under ECLGS 1.0 & 2.0 would be eligible for additional credit support of up to 10% of total credit outstanding as of 29.02.2020 or 31.03.2021, whichever is higher

Businesses who have not availed assistance under ECLGS (ECLGS 1.0 or 2.0), can avail credit support of up to 30% of their credit outstanding as of 31.03.2021.

-Businesses in sectors specified under ECLGS 3.0, who have previously not availed ECLGS, can avail credit support up to 40% of their credit outstanding as of 31.03.2021, to the maximum of Rs.200 crore per borrower;

-Incremental credit can be availed within these limits by existing ECLGS borrowers whose eligibility increased because of a change in the cut-off date to 31.03.2021 from 29.02.2020.

Accordingly, borrowers who have availed assistance under ECLGS and whose credit outstanding as of 31.03.2021 (excluding support under ECLGS) is higher than that on 29.02.2020 shall be eligible for incremental support within the cap stipulated under ECLGS 1.0,2.0 or 3.0.

As on 24th September 2021, loans sanctioned have crossed Rs. 2.86 lakh crore under the Scheme and out of total guarantees issued, about 95% of the guarantees issued are for loans sanctioned to Micro, Small and Medium Enterprises.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest News

Navi Mumbai Cancels Invitations to Newly Elected Corporators for Republic Day Ceremonies

Published

on

School principals to hoist the national flag following administrative delays.

The Flag Hoisting

The Navi Mumbai Municipal Corporation (NMMC) has cancelled invitations extended to newly elected corporators for Republic Day flag-hoisting ceremonies in civic schools this year, citing administrative and procedural delays.

Although the municipal elections have concluded, the first general body meeting of the newly elected corporators is yet to take place. In view of this, the NMMC education department has issued revised instructions for the January 26 celebrations across all municipal schools. As per the new directive, school principals will themselves conduct the flag-hoisting ceremonies, and corporators will not be invited to preside over the events.

Officials clarified that any earlier circulars or communications instructing schools to invite corporators should be treated as cancelled. In cases where invitation letters have already been sent, school principals have been directed to inform the concerned corporators about the revised decision and explain the administrative reasons behind the change.

The move has been described as a temporary arrangement until formal procedures related to the newly elected body are completed. The education department has emphasized that the decision is purely administrative and not political in nature.

Despite the change, the NMMC has instructed all schools to ensure that Republic Day celebrations are conducted with full enthusiasm, discipline and respect for national values. Principals have been asked to strictly adhere to the guidelines and ensure smooth conduct of the programme.

The decision has drawn attention as it comes soon after the municipal elections, highlighting the impact of procedural delays on official civic events.

Continue Reading

Latest News

1111-Feet Tricolor Yatra Fills Navi Mumbai with Patriotic Zeal

Published

on

ABVP initiative sees thousands of students participate spontaneously ahead of Republic Day.

The Initiative

Patriotic fervour gripped Navi Mumbai as the Akhil Bharatiya Vidyarthi Parishad (ABVP) organised a massive 1,111-feet-long Tricolor Yatra, witnessing spontaneous participation from thousands of students and citizens on the eve of Republic Day.

The yatra was held as part of Youth Week celebrations and to mark the birth anniversary of Netaji Subhas Chandra Bose, with the objective of inspiring nationalism, unity and social responsibility among the youth. Students marched proudly while holding the enormous national flag, raising slogans such as “Bharat Mata Ki Jai,” “Vande Mataram” and “Jai Hind,” creating an atmosphere charged with patriotic emotion.

The rally began at Blue Diamond Chowk, Vashi, and culminated at Rajiv Gandhi College of Arts, Commerce and Science, Sector 10A, where a short programme was organised. Speakers highlighted the role of students in nation-building and appealed to the youth to actively contribute to society beyond academics.

Prominent attendees included ABVP state minister Rahul Rajoria, sports coordinator Arpita Malik, and college principal Dr Basukinath Pandey, who praised the enthusiasm and discipline shown by the participants. They urged students to uphold constitutional values and remain socially responsible citizens.

The event’s smooth execution was attributed to the efforts of Dr Akshay Shet and more than 100 volunteers. Participants and local residents said the Tricolor Yatra strengthened the sense of unity and national pride, making it a memorable and inspiring pre-Republic Day event for Navi Mumbai.

Continue Reading

Latest News

Garbage Piles Become Major Issue Ahead of Uran Elections

Published

on

With the Uran civic elections approaching, local residents and political observers are raising serious concerns about the persistent garbage problem across the area. Overflowing waste on main roads and traffic lanes has emerged as a key issue in the election campaign, with voters expressing frustration over poor civic management.

Several key thoroughfares in Uran, especially around busy intersections and residential localities, have been seen strewn with garbage that has not been collected for days. Piles of waste are causing traffic disruptions, foul odour and unhygienic conditions, prompting complaints from commuters, shopkeepers and local residents.

Civic activists and opposition leaders have criticised the local administration for its failure to ensure regular garbage collection and proper waste disposal. They say that poor sanitation has not only affected the appearance of the town but also posed health risks, especially during peak summer months.

Residents pointed out that despite repeated assurances from officials, garbage is frequently left uncollected in several areas, leading to water logging and breeding of insects. Many voters have highlighted this issue as a priority concern affecting their daily lives and have demanded immediate action from authorities.

Political parties contesting the Uran elections have responded by promising stricter monitoring of waste collection, improvement in street cleaning, and deployment of more resources for solid waste management.

As election day approaches, garbage disposal and civic cleanliness have become central themes in public discussions, reflecting growing citizen demand for improved basic services and accountable governance.

Continue Reading

Trending