India's cabinet on Tuesday approved a new emergency credit guarantee programme worth 181 billion rupees ($1.9 billion) to support businesses - particularly small firms - facing short-term liquidity stress linked to the Middle East crisis, the information minister said after a cabinet meeting.
The Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 will provide additional credit support to eligible borrowers, with the government offering 100% guarantee coverage for small and medium enterprises and 90% coverage for other firms and the airline sector, a government statement said.
