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Updated Operational Guidelines and FAQ of the Emergency Credit Line Guarantee Scheme (ECLGS)

11 th Jun 2021

11th June 2021 

The Managing Directors/CEO's/Owners/Director/Partners/General Managers
All Members of FHRAI

CC:   Executive Committee Members of FHRAI
         All Regional Associations

Sub: Updated Operational Guidelines and FAQ of the Emergency Credit Line Guarantee Scheme (ECLGS)

Dear Member,

Greetings from FHRAI!

Please find enclosed the updated Operational Guidelines and FAQ of the Emergency Credit Line Guarantee Scheme (ECLGS) for your kind reference.

The revised scheme offers the following additional benefit to the customers:

·        Additional ECLGS assistance up to 10% of outstanding as on February 2020 to borrowers who are covered under ECLGS 1.0.

·        Ceiling of Rs. 500 Cr. of loan outstanding is removed. Assistance will be limited to 40% or Rs.200 crore, whichever is lower.

·        Validity of ECLGS extended to Sept 30 2021 or till guarantees for ₹3 trillion are issues.

·        Borrowers who have availed assistance under ECLGS 1.0 and are eligible for restructuring as per RBI guidelines of May 05, 2021 are permitted to avail of the same. GECL loans in such cases would be allowed a repayment tenure of up to 5 years, i.e., period up to 24 months during which only interest shall be payable and the principal instalments shall be payable thereafter in 36 monthly instalments.

All eligible members may avail the benefit of the scheme to have some respite from the adverse economic impact caused by the Covid pandemic.

With best regards,

Jaison Chacko
Secretary General
_____________________________________________________

The Federation of Hotel & Restaurant Associations of India
Regd. Off.: B-82, 8th Floor, Himalaya House, 23 K.G. Marg, New Delhi - 110 001
Tel.: 011-40780780, 40780717 (D), Fax: 011-40780777
Email: fhrai@fhrai.com, Website: www.fhrai.com

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THE FEDERATION OF HOTEL & RESTAURANT
ASSOCIATIONS OF INDIA

Address:

B-82, 8th Floor, Himalaya House, 23,
K. G. Marg, New Delhi-110 001

Telephone: 011-40780780

E-mail: fhrai@fhrai.com

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