At present, lenders need to initiate legal proceedings to avail of the full credit guarantee coverage provided by the NCGTC under the scheme. One-time settlement schemes are not considered legal recourse and are not covered by the guarantee.source https://economictimes.indiatimes.com/industry/banking/finance/banking/banks-want-cover-for-one-time-settlement-option-under-eclgs/articleshow/99325811.cms
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