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The Ministry of Finance in a statement said that the modifications introduced are aimed to give necessary collateral-free liquidity at reasonable interest rates to tide over their present cash flow problems
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The central government on Monday said that it has modified the Emergency Credit Line Guarantee Scheme (ECLGS) and raised the loan limit under the scheme to Rs 1,500 crore from Rs 400 crore to help the Covid-hit aviation sector tide over liquidity stress.
The Ministry of Finance in a statement said that all other criteria, terms and conditions parameters prescribed under the operational guidelines of the ECLGS on 30 August 2022 shall be applicable as it is.
"The modifications introduced are aimed to give necessary collateral-free liquidity at reasonable interest rates to tide over their present cash flow problems," it said.
Earlier in March 2022, the ECLGS was extended beyond March 2022, till March 2023, to implement the announcement made in the union budget 2022-23 by Finance Minister Nirmala Sitharaman.