Centre approves inclusion of individual loans under ELGS
by Nidhi Bhati
The government has expanded the scope of the Emergency Credit Line Guarantee Scheme (ELGS) to include individual loans given for business purposes. Further easing lending rules, the government has also ramped up the outstanding loans limit to Rs.500 million from Rs.250 million. Annual turnover ceiling has been raised to Rs.2.5 billion from Rs.1 billion in line with new definition of micro, small and medium enterprises (MSMEs).