New Delhi, Sept. 2 -- The government has decided to discontinue the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0, which was introduced in May to support micro, small and medium enterprises (MSMEs) affected by the crisis in West Asia.

The National Credit Guarantee Trust Company (NCGTC) has informed banks that the scheme will remain operational until the available guarantee cover of Rs 2.5 lakh crore is exhausted.

First-Come, First-Served Basis

According to the NCGTC communication, MSME applications for credit guarantees will be considered on a first-come, first-served basis, subject to the availability of guarantee cover.

Any loan sanctioned beyond the available guarantee cover will not be eligible under the scheme.

FISME Seeks ...