1.

Name of the facility

Guaranteed Emergency Credit Line (GECL)

2.

Validity

Sanction under the scheme is valid up to March 31, 2022 or on reaching the threshold stipulated as per scheme under the GECL, whichever is earlier.

3.

Purpose

GECL facility will help eligible borrowers as per scheme to augment their net working capital, to meet their operational liabilities and restart their businesses which have been impacted due to the COVID-19 crisis.

4.

Eligibility Criteria

• All MSME borrower accounts with combined outstanding loans across all MLIs of up to Rs. 50 crore in any sector and any amount in respect of borrowers in the Hospitality sector, Travel & Tourism sector, Leisure & Sporting sector and Civil Aviation sector and classified as regular, SMA-0 or SMA-1 as on 29.2.2020 or 31.03.2021.

• All MSME borrower accounts in the 26 sectors identified by the Kamath Committee on Resolution Framework in its report of September 04, 2020 and the Healthcare sector having combined outstanding loans across all MLIs above Rs. 50 crore and not exceeding Rs.500 crore and classified as regular, SMA-0 or SMA-1 as on 29.2.2020 or 31.03.2021

• Hospitals/Nursing Homes/Clinics/Medical Colleges/ units engaged in manufacturing of liquid oxygen, oxygen cylinders etc. having credit facility with any lending institution (non necessarily MLI) and classified as regular, SMA-0, SMA-1 or SMA-2 as on 31.03.2021.

• Borrowers who have availed facility under ECLGS 1.0 and are seeking restructuring as per RBI guidelines of May 05, 2021 (as amended vide RBI Circular dated June 04, 2021).

• The Scheme is valid only for existing customers on the books of the MLI.

• The MSME borrower must be GST registered in all cases where such registration is mandatory. This condition will not apply to MSMEs that are not required to obtain GST registration.

• Loans provided to individuals for own business purposes will be covered under the Scheme.

5.

Guarantee fee charged under the Scheme by NCGTC

6.

Extent of guarantee Coverage

The Trustee Company shall provide 100% Guarantee coverage on the outstanding amount for the credit facility provided under the Scheme as on the date of NPA or on the date of lodgment of claim, whichever is lower.