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Loan Guarantee Scheme for Covid Affected Sectors (LGSCAS)
Overview
The LGSCAS proposes a guarantee coverage for the funding provided by Scheduled Commercial Banks to eligible projects in the healthcare sector for setting up or modernizing/expanding healthcare facilities.
The scheme shall provide guarantee cover to both brownfield projects and greenfield projects, subject to a maximum loan of INR100 crore per project. The guarantee cover provided would be 50% (75% in case of projects coming up in aspirational districts) in case of brownfield projects and 75% in case of greenfield projects.
Highlights
Target Projects
(i) Hospitals, dispensaries, clinics, medical colleges, pathology labs, diagnostic centres;
(ii) Facilities for manufacturing of vaccines, oxygen, ventilators, priority medical devices
(iii) Public healthcare facilities
Eligibility
Maximum loan per project shall be limited to INR 100 crore (both fund-based and non-fund based included)
Tenure
Applicable to all eligible loans sanctioned during the period from 07 May 2021 till 31 March 2022, or till guarantees for an amount of INR 50,000 crore are issued under the scheme, whichever is earlier
Interest Rate
Capped at 7.95 % p.a. till the availability of the guarantee cover
Eligibility
- Total loan requirement upto INR100 crore (including fund based and non-fund based facility)
- Project coming up in a non-metropolitan area
- Loan being provided out of COVID Loan Book of the SCBs
- Project pertains to the healthcare sector for setting up of or modernisation/expansion of
- Hospitals/dispensaries/clinics/medical colleges/pathology labs/diagnostic centres
- Manufacturing of vaccines/oxygen/ventilators/priority medical devices
- Public healthcare facilities
- Loans provided in individual capacity will not be covered under the Scheme
Team
Akriti Bajaj
Rashika Vij
Aditya Gupta