Union Cabinet has approved additional funding of up to Rs. three lakh
crore through introduction of Emergency Credit Line Guarantee Scheme (ECLGS).
Guaranteed Emergency Credit Line (GECL) facility to help eligible Micro,
Small and Medium Enterprise (MSME) borrowers, including interested MUDRA
Cabinet also decided 100 per cent credit guarantee coverage by National
Credit Guarantee Trustee Company Limited (NCGTC) to Member Lending
The Cabinet also approved that the Scheme would be applicable to all
loans sanctioned under GECL Facility during the period from the date of
announcement of the Scheme to 31.10.2020, or till an amount of three lakh
crore is sanctioned under the GECL, whichever is earlier.
AIR correspondent reports, the Emergency Credit Line Guarantee Scheme (ECLGS)
has been formulated as a specific response to the unprecedented situation
caused by COVID-19 and the consequent lockdown, which has severely impacted
manufacturing and other activities in the MSME sector.
The salient features of the scheme include all MSME borrower accounts
with outstanding credit of up to Rs. 25 crore as on 29.2.2020 and with an
annual turnover of up to Rs. 100 crore would be eligible for GECL funding
under the scheme.
The scheme would be applicable to all loans sanctioned under GECL during
the period from the date of announcement of the Scheme to 31.10.2020, or
till an amount of Rs. three lakh crore is sanctioned under the GECL,
whichever is earlier.
NAM health minster’s meeting held through videoconferencing
Health Minister Dr. Harsh Vardhan participated in the Non-Aligned
Movement (NAM) Health Ministers’ meeting through video conferencing
today.The meeting was chaired by Health Minister of Republic of Azerbaijan
The Health Ministers of participating NAM countries
SEBI allows listing of MF schemes that are under winding process
The Securities and Exchange Board of India (SEBI) has allowed listing of
units of mutual fund schemes that are in the process of winding up so that
investors get an exit option.
“As per MF regulations, there are several steps envisaged with respect
to winding up of mutual fund schemes before the scheme ceases to exist.
During this process, such units can be listed and traded on a recognised
stock exchange, which may provide an exit to investors,” stated a SEBI
circular issued on Wednesday, while highlighting the fact that close-ended
schemes and units of segregated portfolio are allowed to list on the
Trading via the stock exchange mechanism will not be mandatory for
investors; rather, they may avail an optional exit channel, it added. SEBI
also directed stock exchanges to submit the operational modalities of the
mechanism within seven days.
It may be recalled that last month saw Franklin Templeton MF wind up six
debt schemes with cumulative assets worth ₹26,000 crore. Separately, the
fund house appointed Kotak Mahindra Bank to assist in the monetisation of
assets of the six schemes.
Survey finds 60% of farmers faced losses due to COVID-19
Most farmers managed to harvest their crops despite the COVID-19
pandemic, but 60% of them still faced losses, mostly related to the
lockdown, according to a new survey in 12 States.
A majority of farmers also say the lockdown
India claims Nepal’s new official map as unacceptable
New Delhi today said, the official map of Nepal released by Government
of Nepal includes parts of Indian territory.
In response to media queries on the issue, the Official Spokesman Anurag
Srivastava said, this unilateral act is not based on historical facts and
It is contrary to the bilateral understanding to resolve the outstanding
boundary issues through diplomatic dialogue. He said, such artificial
enlargement of territorial claims will not be accepted by India.
The Spokesman said, Nepal is well aware of India’s consistent position
on this matter and urged the Government of Nepal to refrain from such
unjustified cartographic assertion and respect India’s sovereignty and
He expressed the hope that the Nepalese leadership will create a
positive atmosphere for diplomatic dialogue to resolve the outstanding
Palestine claims Israel’s annexation have derailed Oslo accord
Raising the stakes over Israel’s drive to annex land the Palestinians
have long claimed, President Mahmoud Abbas of the Palestinian Authority on
Tuesday angrily declared it free of its commitments under the Oslo peace
Rare palm species from Andamans finds new home at Kerala
A rare palm from South Andaman Island has found its second home in
Jawaharlal Nehru Tropical Botanic Garden and Research Institute (JNTBGRI)
Kerala. The species has been brought to the Indian mainland to prevent its
The rare palm is called Pinanga andamanensis and is a critically
endangered species. There are only 600 specimens of the species at present.
It is tiny and generally grows in evergreen forests.
The JNTBGRI has ensured to conserve the germplasm of the tree. This will
help to prevent the species from wiping out. It is endangered due to natural
calamity. The palm resembles areca palm and is used in preparing palm oil.
The palm requires 5 to 6 hours of sunshine, 80% of humidity. It thrives
well in areas where the temperature is between 22 degree Celsius and 24
degree Celsius. The name of the palm is derived from the modern Malaysian
state called ‘Penang’. The species was thought to be extinct till 1992.
Germplasm is the living resources like tissue and seeds that are
preserved for plant breeding. They can also be used are genetic resources.
Indian athletes and hockey players in Quarantine after SAI staff tests COVID
Just when they were about to resume training, after receiving the green
signal from the Ministry of Home Affairs and Sports Ministry, athletes and
hockey players preparing for next year's Tokyo Olympics suffered a fresh
blow after a cook employed with the Sports Authority of India's South Centre
in Bengaluru passed away.
The senior cook, who had not been coming to the SAI campus after the
lockdown began but had attended a meeting there on May 15, had died of
cardiac arrest in a hospital on Monday. His sample had tested positive for
COVID-19 on Tuesday.
The SAI confirmed, through a note, that the meeting was attended by 16
members at the auditorium near the administrative block and that social
distancing norms were followed. It said that the cook did not interact with
any of the players, or the other staff members in the centre.