MC Exclusive: Finance ministry to hold meet on Feb 22 with banks on extension of ECLGS

The Finance Ministry has called for a meeting on February 22 with private and public sector banks to discuss extension of emergency credit line and loan guarantee schemes beyond March 31, 2023, sources said.

"The meeting is scheduled to be held under the chairmanship of Financial Services secretary Vivek Joshi. The meeting will review progress under the ECLGS scheme and challenges in its implementation. The meeting will also discuss the extension of ECLGS beyond March 31, 2023," an official told Moneycontrol.

The February 22 meeting will also review loan guarantee scheme for COVID affected sectors and challenges in its implementation. Extension of the scheme beyond March 31, 2023, is also on agenda.

The meeting will also be attended by senior officials from ministries of civil aviation, tourism, health and family welfare and micro, small and medium enterprises.

Heads of banks including State Bank of India, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, Punjab National Bank and all other public lenders are likely to attend the meet.