All MSME/agriculture borrowers are eligible for a loan up to Rs 10 crore and others up to Rs 50 crore
Current Affairs Open segment moneylender Union Bank of India on Thursday said it has set up a crisis subsidizing window for its MSME and corporate clients affected by coronavirus (Covid-19) episode. The bank is offering a most extreme 10 percent of the current working capital breaking point to accounts that are standard as on February 1, 2020, an announcement said.
The reimbursement time of these credits will be three years, including greatest ban of a year. The window is open till September 30, 2020.
“This credit office is accessible at NIL edge with serious pace of premium – 8 percent fixed pace of premium, which is one-year MCLR as on date,” the bank said.
All MSME/agribusiness borrowers are qualified for an advance up to Rs 10 crore and others up to Rs 50 crore.
Open part banks, including State Bank of India, Bank of Baroda and Indian Bank, have just turned out comparative credit extensions for their clients to meet any liquidity confuses.
Aditi Mehta 