Bank of Maharashtra sanctioned Rs 2,789 cr in loans to MSMEs in 3 months
The bank said it is now gearing up to extend the stimulus package announced by Finance Minister Nirmala Sitharaman aimed at restarting business activities.
Recently, the government had announced a Rs 20 trillion (nearly 10 percent of GDP) package to support the economy headed for its first full-year contraction in more than four decades.
Last week, Sitharaman had announced a 100 percent credit scheme worth Rs 3 trillion to support the MSME sector, which has been adversely affected by disruptions caused by coronavirus crisis.
All existing MSME borrowers with outstanding credit of up to Rs 25 crore as on February 29, and with an annual turnover of up to Rs 100 crore would be eligible for guaranteed funding under the scheme.
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