Ranchi, July 10: The State Level Bankers’ Committee (SLBC), Jharkhand, on Friday organised the Phase II outreach programme for the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 in Ranchi, highlighting the need to extend the benefits of the scheme to all eligible borrowers, particularly micro, small and medium enterprises (MSMEs).
The programme, held under the guidance of the Department of Financial Services, Ministry of Finance, Government of India, brought together senior officials from the banking sector, government departments, the Reserve Bank of India (RBI), industry bodies and beneficiaries to promote awareness about the scheme and strengthen its implementation.
Addressing the gathering, SLBC Jharkhand General Manager and Convener Guru Prasad Gond said ECLGS 5.0 has been introduced to support businesses facing liquidity constraints by enabling access to government-guaranteed working capital loans without the requirement of additional collateral.
He urged member banks to proactively identify eligible borrowers and ensure maximum coverage under the scheme before the March 2027 deadline.
Director of the MSME Development and Facilitation Office, Indrajeet Yadav, underscored the significant contribution of the MSME sector to the country’s economy and called for close coordination among banks, government agencies and other stakeholders to ensure effective implementation of the scheme.
Reserve Bank of India, Ranchi Deputy General Manager Kumkum Verma stressed the importance of banks taking an active role in extending the scheme’s benefits to all eligible borrowers.
She said wider coverage under ECLGS 5.0 would strengthen the MSME sector and contribute to the state’s economic growth.
During the programme, experts from the National Credit Guarantee Trustee Company (NCGTC) explained the scheme’s key features, eligibility conditions and operational guidelines.
A live demonstration of the loan application process through the Jan Samarth Portal was also conducted, followed by an interactive session where participants’ queries were addressed.
Several member banks distributed loan sanction letters to beneficiaries whose applications had been approved under the scheme.
The event concluded with a vote of thanks by SLBC Jharkhand Deputy General Manager Santosh Kumar Sinha, who acknowledged the contribution of participating institutions, banking representatives, beneficiaries and government officials in making the outreach programme successful.
