SpiceJet receives its first tranche of government-backed funding under the Emergency Credit Line Guarantee Scheme (ECLGS). According to reports, the airline receives ₹150 crore from the Bank of India, marking the first drawing under the credit line intended to support liquidity and ongoing operations. BusinessLine and NDTV both report that this initial amount is part of a larger proposed funding package of ₹500 crore. The remaining ₹350 crore is expected to be released in phases as the process for the full package continues, with sources indicating that subsequent disbursements are pending completion of steps required under the scheme. The reports characterize the transaction as the beginning of drawdown from the ECLGS framework, which provides credit guarantees to lenders to improve access to emergency financing for eligible borrowers. The airline’s move to secure the tranche is presented as a step toward strengthening its near-term financial position while the remainder of the package is processed.