Govt's ECLGS intervention during economic uncertainty is proactive step in right direction: PHDCCI

New Delhi, May 7 -- The Government's Emergency Credit Line Guarantee Scheme (ECLGS) to target industrial continuity, preserving employment, and strengthening liquidity access for businesses, particularly Micro Small and Medium Enterprises (MSMEs) during periods of economic uncertainty, is a proactive step in the right direction, said PHDCCI President Rajeev Juneja.

"The scheme provides government-backed credit guarantees to banks and financial institutions, enabling faster and collateral-free emergency lending to eligible businesses," Juneja added.

The scheme is designed to address temporary liquidity shortages faced by industries during periods of economic stress by reducing lending risk for financial institutions through sovereign-backe...