Now Bank Defaulters Can Borrow More Through ECLG Scheme

On Friday Bank declared that even defaulters can borrow additional bank loans, the government extended the scope of its Emergency Credit Line Guarantee Scheme to those with repayment overdue of up to 60 days. 

The department of financial services said the facility would be available to 26 stressed sectors identified by a committee headed by former ICICI Bank chief K V Kamath. The list includes everything from healthcare, aviation and corporate retail outlets to power, cement, construction and textiles.