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Emergency credit scheme for MSMEs extended till 31 March 2022
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.
Latest News
MSEDCL Steps In as Seawoods Residents Face High Electricity Bills
Power officials promise meter checks and bill revisions following public outrage over double and triple charges.
The Bills
Opening this month’s electricity bill brought an unwelcome shock to families across Seawoods. Households in several residential complexes reported sudden, unexplainable spikes, with monthly charges doubling or even tripling despite maintaining their regular energy usage.
Driven by rising public frustration, local citizen groups approached the Maharashtra State Electricity Distribution Company Limited (MSEDCL), prompting officials to step in and promise a full investigation.
Residents expressed deep concern over potential meter glitches, inaccurate readings, or incorrect tariff slab calculations applied by the state power distributor.
“Our routine usage hasn’t changed at all, yet our bill has shot through the roof,” shared one frustrated Seawoods resident. “It is unreasonable to pay double for the exact same power consumption.”
Acknowledging the grievances, MSEDCL officials confirmed they will conduct physical meter re-inspections and review historical reading logs to rectify technical or calculation errors.
To resolve individual cases, the utility body has instructed affected consumers to submit formal complaints with their 12-digit consumer number and bill copies. Residents can lodge these directly at local subdivision offices or through the MSEDCL portal and app for verification and billing adjustments.
Latest News
Double Standards on the Hill: Kharghar Residents Protest Selective Ban
Locals accuse CIDCO of turning away ordinary walkers while granting VIPs and events access to Kharghar Hill.
The Protest
A growing sense of frustration has brought Kharghar residents out of their morning routines and into active protest. Members of the Kharghar Hill Welfare Association and Sajag Nagrik Manch gathered at the hill’s entrance near the RBI Colony Metro station to voice anger against the City and Industrial Development Corporation (CIDCO) over glaring double standards.
CIDCO enforces an annual entry ban on Kharghar Hill from June 15 to September 15 due to monsoon landslide risks. While locals understand safety precautions, they argue the rule is being applied selectively. Protesters held signs declaring “Every Citizen is Equal Before the Constitution,” pointing out that while daily walkers are turned away, VIPs and organized commercial runners continue to gain access.
“If the hill is dangerous due to landslides, it should be unsafe for everyone,” expressed frustrated local residents. “How does the danger disappear for private marathons and VIPs while ordinary citizens are barred?”
Residents also highlighted long-standing civic neglect regarding the damaged access road to local tribal hamlets like Phanaswadi, which was only repaired ahead of an upcoming marathon event. Protesters have warned they will step up demonstrations and oppose the August 23 marathon if CIDCO fails to establish a fair and uniform entry policy for all.
Latest News
Urgency in Navi Mumbai, NMMC Demands Evacuation of 34 Dangerous Buildings
Civic officials cut off power and water connections following a tragic building collapse in neighboring Bhiwandi.
The Danger
As heavy monsoon rains continue to batter the region, the Navi Mumbai Municipal Corporation (NMMC) has issued a critical warning to local residents: evacuate your homes immediately or face life-threatening risks.
Municipal Commissioner Kailas Shinde has ordered the swift evacuation and demolition of 34 structures classified as ‘C-1’ma category reserved for buildings deemed structurally unsafe and beyond repair.
The sudden crackdown follows a devastating building collapse in neighboring Bhiwandi, prompting state-wide directives to prevent monsoon disasters. To force compliance and safeguard lives, civic authorities have begun disconnecting electricity and water supplies to the identified properties.
“Our highest priority is ensuring zero loss of life during this monsoon,” civic officials emphasized. “Remaining in these structures poses a direct threat to residents and passersby alike.” Turbhe ward carries the highest risk, housing 15 of the 34 hazardous buildings, while others are spread across Belapur, Nerul, Vashi, Koparkhairane, Airoli, and Digha.
NMMC made it clear that occupants remaining in these structures do so at their own risk, stating the civic body will bear no legal or financial liability in the event of a collapse. Property owners and tenants must cease all residential and commercial activities immediately to pave the way for safe demolition.
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