New Delhi, July 7 -- The Ministry of Finance on Tuesday said the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 has crossed 4.11 lakh guarantees for businesses affected by the West Asia geopolitical situation, with the total guaranteed amount exceeding Rs 1.55 lakh crore.

In a release, the ministry said, "Since launch, 4,11,497 guarantees have been issued under ECLGS 5.0, with the guaranteed amount reaching to Rs 1,55,229 crore - a sign of the scheme's rapid absorption across the lending ecosystem."

It added that micro, small and medium enterprises (MSMEs) accounted for 98 per cent of the total number of guarantees and 82 per cent of the total guaranteed amount.

However, industry bodies representing MSMEs have highlighted challenge...