“SMA-1 debtors within the healthcare sector and 26 different excessive stress sectors (as recognized by the Kamath Committee) at the moment are eligible underneath ECLGS 2.0,” the finance ministry stated in a tweet.
Particular Point out Accounts (SMAs) are these that are witnessing stress and may change into NPAs/careworn belongings.
“In recognition of the persevering with antagonistic affect of COVID-19 pandemic on sure service sectors, the federal government has now prolonged the scope of ECLGS by means of introduction of ECLGS 3.0 to cowl enterprise enterprises in Hospitality, Journey & Tourism, Leisure & Sporting sectors which had, as on February 29, 2020, complete credit score excellent not exceeding Rs 500 crore and overdues, if any, had been for 60 days or much less, on that date,” the assertion issued final month had stated.
ECLGS 3.0 would contain extending credit score of as much as 40 per cent of complete credit score excellent throughout all lending establishments as on February 29, 2020. The tenor of loans granted underneath ECLGS 3.0 could be six years, together with a moratorium interval of two years.
Until February-end, Rs 2.46 lakh crore of Rs 3 lakh crore had been sanctioned underneath the scheme by industrial banks and non-banking monetary firms (NBFCs).
The scheme was legitimate until October 2020 and it was prolonged to November-end. The scheme was once more prolonged in November as a part of the Aatmanirbhar Bharat 3.0 package deal until March 31, 2021 by together with the 26 careworn sectors recognized by the RBI-constituted Ok V Kamath committee.
The revised operational pointers had been issued by Nationwide Credit score Assure Trustee Firm Ltd (NCGTC).