SLBC Jharkhand holds ECLGS 5.0 Outreach Programme

PNS

Ranchi

The State Level Bankers’ Committee (SLBC), Jharkhand, on Friday organised the Phase-II Outreach Programme of the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 in Ranchi, with stakeholders stressing the need to ensure that every eligible borrower benefits from the scheme by March 2027.

The programme, held under the aegis of the Department of Financial Services, Ministry of Finance, Government of India, aimed to create widespread awareness about ECLGS 5.0 and facilitate maximum coverage of eligible Micro, Small and Medium Enterprises (MSMEs) and other qualified borrowers.

The event was attended by Director of the MSME Development and Facilitation Office, Government of India, Indrajeet Yadav; General Manager and Convenor of SLBC Jharkhand, Guru Prasad Gond; Deputy General Manager of the Reserve Bank of India, Ranchi, Kumkum Verma; state heads of various member banks; representatives of the Central and State governments; officials of the National Credit Guarantee Trustee Company (NCGTC); representatives of industrial organisations; and beneficiaries of the ECLGS 5.0 scheme. An Under Secretary from the Department of Financial Services, Ministry of Finance, also joined the programme virtually and addressed the participants.

Welcoming the participants, Guru Prasad Gond outlined the objectives and key features of ECLGS 5.0. He described the scheme as a significant initiative of the Government of India aimed at addressing liquidity challenges being faced by businesses due to the West Asia crisis by providing government-guaranteed working capital loans without requiring additional collateral.

He urged all member banks to proactively identify eligible borrowers and ensure that every qualifying beneficiary is brought under the ambit of the scheme by March 2027. He said timely implementation of the programme would help strengthen businesses facing temporary financial stress while supporting economic growth.

Addressing the gathering, Indrajeet Yadav highlighted the vital contribution of the MSME sector to the Indian economy and underscored the need for coordinated efforts among banks, government agencies and other stakeholders to ensure the effective implementation of ECLGS 5.0. He said stronger institutional coordination would enable the scheme to reach a larger number of deserving enterprises.

Deputy General Manager of RBI Ranchi Kumkum Verma emphasised the crucial role of banks in implementing the scheme effectively. She said it was essential that all eligible borrowers receive the benefits of ECLGS 5.0, adding that such initiatives would not only strengthen the MSME sector but also contribute significantly to the overall economic development of Jharkhand.

During the programme, officials from the National Credit Guarantee Trustee Company delivered a detailed presentation on the scheme’s key features, eligibility criteria and operational guidelines. Participants were also given a live demonstration of the loan application process through the Jan Samarth Portal, enabling borrowers and bankers to better understand the digital application procedure.

A question-and-answer session was organised during which experts addressed queries raised by beneficiaries and bank officials regarding the scheme’s implementation, eligibility norms and application process.

As part of the outreach programme, sanction letters for loans approved under ECLGS 5.0 were distributed to beneficiaries by various member banks, marking the extension of financial assistance under the government-backed credit guarantee scheme.

The programme concluded with a vote of thanks delivered by Santosh Kumar Sinha, Deputy General Manager, SLBC Jharkhand, who expressed gratitude to the distinguished guests, participating institutions, member banks, beneficiaries and all stakeholders for their contributions towards the successful conduct of the outreach programme.