Emergency Credit Line Guarantee Scheme extended

Union Government has extended the Emergency Credit Line Guarantee Scheme (ECLGS) by one month till 30th of November or till an amount of Rs. three lakh crore is sanctioned under the scheme, whichever is earlier.This has been done in view of the opening up of various sectors in the economy and the expected increase in demand during the ongoing festive season.This extension will provide a further opportunity to such borrowers who have not availed of the scheme so far, to obtain credit under the scheme.The ECLGS was announced as part of the Atmanirbhar Bharat Package to provide fully guaranteed and collateral free additional credit to MSMEs, business enterprises, individual loans for business purposes and MUDRA borrowers. Borrowers with credit outstanding up to Rs. 50 crore as on 29th of February 2020 and with an annual turnover of up to Rs. 250 crore are eligible under the scheme.Interest rates under the scheme are capped at 9.25 per cent for Banks and FIs and 14 per cent for NBFCs.

-Science and Technology Minister Dr. Harsh Vardhan and Minister of State for Posts Sanjay Dhotre today released the Special Cover of Department of Posts for commemorating the Golden Jubilee of Department of Science and Technology at a function in New Delhi on Monday. Dr Harsh Vardhan congratulated DST saying that scientists have proved their mettle in all fields of science at international level. He revealed that India has international collaboration with over 80 countries in various scientific areas as on today. MoS for Posts Sanjay Dhotre applauded the achievements of the DST and said, the Department of Posts feels proud in providing Special Cover for the DST highlighting its immense achievements.He said Indian scientists have contributed a lion’s share in country's development.

-The Centre has released Rs. 2,200 crore as the first installment to 15 states for the improvement of air quality measures in their million-plus cities.The amount has been released based on the recommendations of the 15th Finance Commission.Office of Finance Minister Nirmala Sitharaman in a tweet said that this will help the beneficiary states to undertake air quality measures, including capacity-building of the local bodies within their million-plus cities.The states which have been given the amount include Andhra Pradesh, Gujarat, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, Uttar Pradesh and West Bengal. 
Of the total amount, Rs. 396.5 crore has been released to Maharashtra, Rs. 202.5 crore to Gujarat, Rs. 357 crore to Uttar Pradesh and Rs. 209.5 crore to West Bengal.

-The Bengaluru based Indian Institute of Science and R&D Centre of Indian Oil Corporation have signed an MOU to develop and demonstrate biomass gasification based hydrogen generation technology for producing fuel cell-grade hydrogen at an affordable price. Both IISc and Indian Oil will demonstrate the technology in the Indian Oil R&D Centre in Faridabad. The technology is crucial for the fuel cell operated buses being conceived by Indian Oil towards ushering in the country’s hydrogen economy. Indian Oil Corporation had recently launched trials of 50 buses in Delhi using hydrogen-CNG as a fuel, based on Indian oil patented single step reforming technology. It is now working with IISc to use hydrogen production technology based on biomass gasification.

-The Supreme Court Monday dismissed a plea challenging the election of former Congress President Rahul Gandhi in 2019 from Wayanad Lok Sabha constituency in Kerala. A bench comprising Chief Justice S A Bobde and Justices A S Bopanna and V Ramasubramanian initially passed over the matter as none appeared on behalf of Saritha S Nair, who has challenged Gandhi's election.Later, in a hearing conducted through video conferencing, the bench dismissed her appeal against the Kerala High Court order. Nair had moved the top court against the October 31, 2019 decision of the Kerala High Court by which her election petitions challenging the Lok Sabha polls in Wayanad and Ernakulam also were dismissed.Nair's nomination papers for contesting Lok Sabha polls from Wayanad and Ernakulam Lok Sabha seats were rejected by the returning officers in 2019 on account of her conviction and sentencing in two criminal cases related to the Solar scam in the state.