COVID-19: Bank of Baroda to provide support to women SHGs, FPOs
The bank has also announced an emergency credit line for farmers producer organisations (FPO/FPC) to deal with any liquidity mismatches.
Under the Additional Assurance to SHGs-COVID19 scheme, the bank will provide support to existing SHGs' facilities in the form of cash credit or overdraft or term loans."The minimum loan amount is Rs 30,000 per SHG and maximum loan amount granted under the scheme is Rs one lakh per member, repayable in 24 months," the bank said in a statement.
For FPO/FPC, a limit of 10 per cent of the combined limits will be sanctioned with maximum amount of Rs 5 lakh with the tenor of 36 months. The moratorium period is for a maximum of six months.For borrowers in dairy and fisheries segment, the lender will provide instant credit to farming community to meet emergent funds requirement for farm maintenance and other farm related activities due to COVID-19.
"The limit stands at 10 per cent of other agriculture sanction limit (i.e. minimum Rs 10,000) and maximum Rs 50,000 for existing regular investment credit agriculture accounts," it said.The lender will also give an instant credit to crop loan borrowers for requirement in agriculture and related domestic purposes. The loan limit under the scheme is 10 per cent of KCC sanction limit -- minimum Rs 10,000 and maximum Rs 50,000 -- for existing regular KCC holders. HV RVK
(This story has not been edited by Business Insider and is auto-generated from a syndicated feed we subscribe to.)
- HUL aims to achieve 100% plastic waste collection this year
- India now allows you to avail a discount on flight ticket if you are not carrying a check-in baggage
- Leader of Opposition, 4 other Cong MLAs suspended for rest of Budget session over alleged manhandling of Himachal Pradesh Governor. PTI DJI SMN ASH ASH
- Levi’s ad with global ambassador Deepika Padukone aims at inspiring a culture of sisterhood and celebrate individuality
- Property tax in Telangana can now be paid via WhatsApp