Bank of Maharashtra sanctioned Rs 2,789 cr in loans to MSMEs in 3 months

The bank said it was now gearing up to extend the stimulus package announced by Finance Minister Nirmala Sitharaman to restart business activities

State-owned Bank of Maharashtra said on Sunday that it had sanctioned loans worth Rs 2,789 crore to MSMEs, self-help groups, agricultural and retail borrowers to help them meet their liquidity mismatches caused due to coronavirus crisis over the last three months.

The lender had launched various Covid-19 emergency credit lines for its existing customers in March.

"We have sanctioned loans amounting to Rs 2,789 crore under agriculture, SHGs, Retail, MSMEs with almost one lakh beneficiaries between March 2020 and May 2020," the lender said in a statement.

The lender had used various channels such as webinars, calls, SMSes and emails