RBI’s New SME loan relief measures
Dinesh Khara, the chairman of the State Bank of India, talked about the loans for SMEs regarding the pandemic and the Reserve Bank of India’s relief measures of 5th May 2021 in the press release, 30th May 2021.
The chairman informed how RBI’s SME loan relief measures, which has announced on 5th May 2021, will be rolled out.
Mr Khara explained that PSBs had formulated the templated approach for restructuring loans to everyone, small businesses and MSMEs up to Rs 25 crore. In order to inform the bank for resolution, customers can apply with an application on the bank website portal, as well as they can make offline submission of applications at the nearest branch.
The Chairman also mentioned that the government would provide full (100%) guarantee cover to the loans up to two crore rupees to the medical centres for setting up medical oxygen generation plants, the interest rate can be near about 7.5%. The validation of ECLGS has also been extended to 30th September 2021, otherwise, guarantees for an amount of Rs 3 lakh crore is issued. The process will be done under the scheme has been permitted till 31st December 2021.
