SBI Chairman Dinesh Khara discusses how the RBI’s 5-May SME loan relief measures are being implemented; ECLGS is being extended.

Press Conference of SBI Key Elements: The government has announced an extension of its Rs 3 lakh crore ECLGS, as well as a guarantee of 100 per cent for loans of up to Rs 2 crore to hospitals, nursing homes, and other institutions for the installation of on-site oxygen production facilities.SBI Chairman Dinesh Khara discusses how the RBI's 5-May SME loan relief measures are being implemented; ECLGS is being extended.

In a news conference on May 30, 2021, State Bank of India (SBI) Chairman Dinesh Khara discussed loans for SMEs, the revival of Covid-19, and the RBI’s relief measures of 5 May 2021. Chairman Khara detailed the implementation of the RBI’s SME loan relief measures, which were announced on May 5, 2021. He stated that PSBs had developed a templated methodology for restructuring loans of up to Rs 25 crore to individuals, small enterprises, and MSMEs. Customers can approach the bank for resolution by filing an application on the bank’s Internet portal or by manually submitting applications at the branch. Khara further stated that the government would provide a 100 per cent guarantee on loans up to Rs 2 crore to hospitals, nursing homes, and other institutions to establish on-site oxygen generation plants, with an interest rate of 7.5 per cent. ECLGS has also had its validity extended till September 30, 2021, or until guarantees for Rs 3 lakh crore are given. The scheme’s distribution has been extended until December 31, 2021.

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