Central Bank of India Launches Loan Schemes for Farmers, SHGs and MSMEs amid Lockdown

To provide some relief to people amid rising cases of Coronavirus or Covid-19 pandemic in the country, the Central Bank of India has come up with few schemes. The bank has launched various schemes to offer liquidity support to the micro, small and medium enterprises or MSMEs, agriculture & self-help group borrowers who are badly affected by the Coronavirus induced lockdown.

For micro, small and medium enterprise borrowers that are standard, Central Bank of India is providing an emergency line of credit up to 10% of their existing fund based working capital limits, up to a maximum of Rs 50 crore, according to a release. The loans will be provided for eighteen months, with the first 6 months as moratorium. The scheme is offered till 30^th June 2020.

Besides this, the bank is offering liquidity support to its existing Kisan credit card (KCC) holders or term loan borrowers for crop/poultry/dairy/ animal husbandry/fisheries between Rs 10,000 to Rs 50,000. The bank will give loans to the borrowers having track records of at least 1 year.

For its self-help group borrowers, the lender is offering finance of Rs 5,000 / member and up to Rs 1 lakh / SHGs. The bank said that liquidity support schemes for agricultural as well as SHG borrowers would be available till September 2020.

For more details visit your nearest branch or check - https://www.centralbankofindia.co.in/