LGSCAS is a scheme to provide guarantee by National Credit Guarantee Trustee Company (NCGTC) to Member Lending Institutions (MLIs) for fund based or non-fund based facility upto Rs.100 crore extended by Scheduled Commercial Banks (SCBs) to eligible projects in the healthcare sector for setting up of or for modernizing /expansion of loan grantee scheme
(i) hospitals/dispensaries/clinics/medical colleges/pathology labs/diagnostic centres;
(ii) facilities for manufacturing of vaccines/oxygen/ventilators/priority medical devices and
(iii) public healthcare facilities
The objective of the Scheme
The Scheme is a specific response to the unprecedented situation arisen due to COVID19. It seeks to ramp up COVID related healthcare infrastructure and services in the country and also to be future ready
The Scheme would be applicable to all loans sanctioned under LGSCAS during the period from May 07, 2021 to March 31, 2022 or till guarantees for an amount of Rs.50,000 crore are issued under LGSCAS, whichever is earlier.
The Scheme is open for assistance to new units (Greenfield projects) as well as existing eligible units going in for expansion / modernization etc. (Brownfield projects) in the sector(s) specified.
The entire funding provided under LGSCAS shall be provided with credit guarantee coverage by NCGTC under the Scheme, as per details below : For Greenfield projects – 75% For Brownfield projects – 50%; however, projects in inspirational districts shall qualify for 75% cover;
The eligibility criteria under the Scheme are as under:
• Total loan requirement upto Rs.100 crore
(including fund based and non-fund based facility)
• Project coming up in a non-Metropolitan area being provided out of COVID Loan Book of the SCBs
• pertains to the healthcare sector for setting up of or modernisation/expansion of allowing that in individual capacity will not be covered under the Scheme.
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