utsav increbleindia
  • Hon'ble Finance Minister announced guarantee/collateral free loan guarantee scheme for tourism sector on 28.06.2021.
  • M/o Tourism launched 'Loan Guarantee Scheme for Covid Affected Tourism Service Sector (LGSCATSS)'.
  • The scheme aims at extending loan to the distressed tourism sector to help them discharge their liabilities and restart their business affected due to Covid-19 pandemic.
  • Validity of the said scheme is till 31.03.2022 or till the guarantee of Rs. 250.00 crores are issued under the scheme.
  • Loan upto Rs. 10.00 lakh each may be availed by MoT approved Tour operator/Travel Agents/ Tourist Transport Operators.
  • Loan upto Rs. 1.00 lakh each may be availed by RLGs/IITGs approved by MoT and Tourist Guides approved by State Govt./UT Administration.
  • Scheme has been made operational through NCGTC; guidelines available on NCGTC website.
  • Five Scheduled Commercial Banks: Punjab National Bank, Central bank of India, Union Bank India, Bank of India and Karur Vysya Bank have already launched the scheme.
  • Other Scheduled Commercial Banks are also being directed to launch the scheme.
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