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    Demand to bring stressed sectors under Emergency Loan Credit Guarantee Scheme picks up

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    Demand to bring stressed sectors under Emergency Loan Credit Guarantee Scheme picks up

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    CNBC-TV18 has learnt from top banking sources say that the sector has also requested the government to permit the depressed sectors under ECLGS. CNBC-TV18’s Latha Venkatesh has more details.

    Last week, the Confederation of Indian Industry (CII) wrote to the Finance Ministry, urging to explore an Emergency Loan Credit Guarantee Scheme to support the stressed sectors and argued that prolonged strain on employment-intensive sectors could impede economic recovery. The industry chamber on Sunday said it has recommended this intervention to assist the stressed segments, primarily in the service sectors like hospitality, tourism aviation and retail, as this would not have any impact on the fiscal deficit this year but will provide the much-needed liquidity to these sectors which employ a large number of people.
    Now, CNBC-TV18 has learnt from top banking sources say that the sector has also requested the government to permit the depressed sectors under ECLGS. CNBC-TV18’s Latha Venkatesh has more details.
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