ECLGS defaults just 2-3%, may cost govt just a third of estimate

The Emergency Credit Line Guarantee Scheme (ECLGS) has been successful in reducing loan defaults to just 2-3%, much lower than expected. The government’s cost to cover these defaults may only be around Rs 25,000 crore, a third of the initial estimate. The scheme, extended until March 2023, has issued 11.9 million guarantees worth Rs 3.68 […]