Loan Guarantee Scheme for Covid Affected Tourism Service Sectors (LGSCATSS) Scheme
Government of India through Ministry of Tourism has introduced the Loan Guarantee Scheme for Covid Affected Tourism Service Sectors (LGSCATSS) to provide 100% guarantee coverage for loans provided by Scheduled Commercial Banks to Registered Tourist Guides (recognized/ approved by Ministry of Tourism and State Govts/UT Administrations) and Travel & Tourism Stakeholders recognized/ approved by the Ministry of Tourism, Govt. of India, for the Covid affected Tourism Service Sector, to discharge liabilities and restart their business affected due to Covid -19 pandemic.
NCGTC has issued operational guidelines on LGSCATSS scheme and for details please visit https://www.ncgtc.in/en/products-n-services/lgscatss
In line with above guidelines, Karur Vysya Bank has launched a new term loan facility under Loan Guarantee Scheme for Covid Affected Tourism Service Sectors (LGSCATSS).
Salient features of the Scheme:
Particulars | Details |
---|---|
Facility | Term Loan |
Purpose | Covid affected Tourism Service Sector, to discharge liabilities and restart their business affected due to Covid -19 pandemic. |
Eligible Borrowers | The eligibility criteria under the Scheme are as under:
|
Loan Amount | Travel & Tourism: Maximum Rs.10.00 lakh Tourist Guide: Maximum Rs.1.00 lakh |
Tenor |
|
Scheme Period | The Scheme is valid till 31st March 2023, or till guarantees for an amount of Rs.250 crores are issued under the scheme, whichever is earlier. |
Loan Assessment | Assessment as per our Bank Credit Policy guidelines |