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About the Scheme

Government of India through Ministry of Finance, Department of Financial Services has introduced the Emergency Credit Line Guarantee Scheme (ECLGS) for providing 100% guarantee coverage for additional working capital term loans upto 20% of their entire outstanding credit upto Rs. 25 crore i.e. upto Rs. 5 crore, as on February 29th, 2020, subject to account being less than or equal to 60 days past due as on that date. This is being implemented through NCGTC.

The Scheme is named as ‘Emergency Credit Line Guarantee Scheme (ECLGS)’ and the credit product for which guarantee would be provided under the Scheme is named as ‘Guaranteed Emergency Credit Line (GECL)’. The Emergency Credit Line Guarantee Scheme provides 100% guarantee coverage by NCGTC.The Scheme is applicable to all loans sanctioned under GECL during the period from May 23, 2020 to 31st October, 2020, or till an amount of Rs. 3 lakh crore is sanctioned under GECL, whichever is earlier.

Customer Eligibility Norms

  1. All business enterprises/MSME borrower accounts with combined outstanding loans across all Member Lending Institutions of up to Rs 25 crore as on 29.02.2020 and annual turnover of up to Rs 100 crore for FY 2019 – 20
  2. Borrower accounts should be less than 60 days past due as on 29th February, 2020 in order to be eligible under the Scheme.
  3. Loans provided to Business Enterprises / MSMEs constituted as Proprietorship, Partnership, registered company, trusts , Limited Liability Partnerships (LLPs) and Individual Business Enterprise having Udyog Aadhaar Registration shall be eligible under the Scheme.
  4. The Scheme is valid for existing customers of the Tata Motors Finance Limited and Tata Motors Finance Solutions Limited
  5. Business Enterprises / MSME borrower must be GST registered in all cases where such registration is mandatory. This condition will not apply to Business Enterprises / MSMEs that are not required to obtain GST registration, they need to submit the declaration in the prescribed format stating the fact

Loan Amount & Eligibility

Maximum up to 20% of the loan outstanding with TMFL/TMFSL.

  1. If a customer wants to take the loan under this scheme exceeding 20% of the loan outstanding with TMF, by clubbing existing loan outstanding with other bank/financial institutions, the borrower shall submit a No Objection Certificate (NOC) from such other banks/financial institutions.
  2. It is however clarified that no NOC will, be required if the loan availed under this scheme from TMF is limited to the proportional 20% of the outstanding loan with TMF.


  1. Tenor: Maximum 4 years from the date of disbursement
  2. Moratorium: 12 months for principal only, interest is payable at monthly intervals
  3. The principal shall be repaid in 36 equal installments after the moratorium period is over.
  4. Pre-payment of facilities to be allowed at no additional charge to the borrower


  • This additional Term loan facility granted under GECL shall rank second charge with the existing credit facilities in terms of cash flows (including repayments) and security, with charge on the assets financed under the Scheme to be created within a period of three months from the date of disbursal.
  • To Know more you may visit the website: https://www.eclgs.com/

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