This bank just launched new schemes for MSMEs, farmers and self-help groups - Check details

To help and provide liquidity support to micro, small and medium enterprises (MSMEs), agriculture and self-help group borrowers, State-run Central Bank of India has launched various loan schemes. For MSME borrowers that are standard, the bank is offering an emergency line of credit up to 10 per cent of their existing fund based working capital limits, up to a maximum of Rs 50 crore.

The loans are being offered for 18 months, with the first six months as moratorium. The scheme is offered till June 30, 2020.

Farmers

-The lender is offering liquidity support to its existing Kisan credit card holders or term loan borrowers for crop/fisheries/poultry/dairy/animal husbandry between Rs 10,000 to Rs 50,000.

-Loans will be given to borrowers having track records of at least one year.

Self-help groups

-For its SHG borrowers, the bank is providing finance of Rs 5,000 per member and up to Rs 1 lakh per SHGs.

-The liquidity support schemes for agricultural and SHG borrowers will be available till September, 2020, the bank said.

Recently, to meet the liquidity demand amid the COVID-19 crisis, state-run Bank of Baroda has come up with an offer of personal loan of up to Rs 5 lakh to its existing retail borrowers. "The objective of Baroda Personal Loan COVID 19 is to provide ease to tide over the liquidity mismatch to existing customers. The customers may approach their existing branches to avail this personal loan up to a maximum limit Rs 5 lakh in a hassle free manner," the bank said in a release. The lender is offering this loan to its existing borrowers who have taken home loan, loan against property or auto loan, and have a credit score of 650 and above.