Airlines to avail up to Rs 15 bn loan under ECLGS
AVIATION & AIRPORTS

Airlines to avail up to Rs 15 bn loan under ECLGS

The Union Finance Ministry approved a loan of up to Rs 15 billion under the Emergency Credit Line Guarantee Scheme (ECLGS) to assist airlines in dealing with cash flow issues.

Previously, an airline could obtain a loan of up to Rs 4 billion under the ECLGS. The ECLGS was established by the Centre in 2020 to give collateral-free and government-guaranteed loans to businesses affected by the pandemic.

The Finance Ministry's decision is likely to aid financially troubled airlines like SpiceJet, who have been seeking support from the Centre to run their operations. The airline received an ECLGS loan of roughly Rs 2.25 billion last month.

The Union Finance Ministry approved a loan of up to Rs 15 billion under the Emergency Credit Line Guarantee Scheme (ECLGS) to assist airlines in dealing with cash flow issues. Previously, an airline could obtain a loan of up to Rs 4 billion under the ECLGS. The ECLGS was established by the Centre in 2020 to give collateral-free and government-guaranteed loans to businesses affected by the pandemic. The Finance Ministry's decision is likely to aid financially troubled airlines like SpiceJet, who have been seeking support from the Centre to run their operations. The airline received an ECLGS loan of roughly Rs 2.25 billion last month.

Next Story
Infrastructure Urban

LAC Partnership Holds Potential for Economic Expansion: Goyal

Union Minister of Commerce & Industry, Piyush Goyal highlighted thatthere remains significant untapped potential for economic and trade expansion. Goyal, addressed the 10th CII India-LAC Conclave at New Delhi, emphasising the growing importance of India’s economic engagement with the Latin American and Caribbean (LAC) region. He said, the India-LAC partnership is not just about business but also about cultural exchanges, shared traditions, and a collective commitment to preserving heritage. He noted that the passion for festivals, sporting spirit, and rich histories of both regions provide ..

Next Story
Infrastructure Urban

ULIP Surpasses 100 Crore API Transactions

Unified Logistics Interface Platform (ULIP) has reached a significant milestone, recording 100 crore API transactions, reinforcing its role as a game-changer in India's logistics sector. This achievement marks a significant step toward building a world-class, technology-driven logistics ecosystem that fuels industrial growth under Make in India and accelerates the vision of Viksit Bharat 2047. The Union Minister of Commerce & Industry Piyush Goyal, commended the achievement, stating, “ULIP's success wouldn't have been possible without the collaborative efforts of our users, logistics stakeh..

Next Story
Infrastructure Urban

Centre for Development of Telematics launches ‘Samarth’

Centre for Development of Telematics (C-DoT), an autonomous Telecom R&D centre of Department of Telecommunication (DoT), Government of India launches first cohort of Incubation Program named as “Samarth” with a focus on fostering innovation and promoting technological advancements in India’s telecommunications and IT sectors. “Samarth” Incubation Program is designed to provide comprehensive support for startups and innovators engaged in creating next-generation technologies in the fields of Telecom Software Applications, Cyber Security, 5G/6G Technologies, AI, IoT Applications & Qua..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?