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Azadi Ka Amrit Mahotsav Jandhan se Jansuraksha
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Schemes

Financial Inclusion is an important priority of the Government. The objective of Financial Inclusion is to extend financial services to the large hitherto un-served population of the country to unlock its growth potential. The Government initiated the National Mission for Financial Inclusion (NMFI), namely, Pradhan Mantri Jan Dhan Yojana (PMJDY) in August, 2014 to provide universal banking services for every unbanked household, based on the guiding principles of banking the unbanked, securing the unsecured, funding the unfunded and serving un-served and under-served areas. With a view to further deepening the financial inclusion interventions in the country, PMJDY has been extended beyond 14.8.2018 with the focus on opening of accounts shifting from “every household” to “every unbanked adult”.

The moto of financial inclusion is form Jandhan to Jansuraksha. The details of the schemes of Financial Inclusion are below.

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Emergency Credit Line Guarantee Scheme (ECLGS):

The Emergency Credit Line Guarantee Scheme (ECLGS) was launched in May, 2020 as part of Aatmanirbhar Bharat Abhiyaan to support eligible Micro, Small and Medium Enterprises (MSMEs) and business enterprises in meeting their operational liabilities and restarting their businesses in context of the disruption caused by the COVID-19 pandemic. This scheme covers all the sectors of the economy..

Under ECLGS, 100% guarantee is provided to Member Lending Institutions (MLIs) against any losses suffered by them due to non-repayment of the ECLGS funding extended by them to eligible borrowers. Initially, the admissible limit of the guarantee was Rs. 3 lakh crore which was later enhanced to Rs. 4.5 lakh crore with the approval of Cabinet. In view of the evolving situations in the light of pandemic, scope of the scheme has been extended timely as evident by the introduction of ECLGS 2.0 on 17.11.2020, ECLGS 3.0 on 26.3.2021, ECLGS 4.0 on 27.5.2021 and further extensions in the form of additional credit and scope of eligible borrowers on 24.9.2021 and 30.3.2022..

The validity of the scheme is extended upto 31.3.2023.

Since, Partial Credit Guarantee Scheme (PCGS) has already been concluded.

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