SBI offers new credit scheme to meet liquidity mismatch amid Covid-19

The loans can be repayable in 6 monthly installments after a moratorium period i.e, 6 months from the date of disbursement

In a relief to existing borrowers, the State Bank of India (SBI) on Friday announced a new scheme where the lender will provide emergency credit to borrowers whose operations are hit by the Coronavirus (Covid-19) pandemic.

The government lender will make additional credit available via Covid-19 Emegency Credit Line (CECL) to existing borrowers on an ad-hoc basis. CECL will be in force upto June 30.

The emergency credit lending is to meet the liquidity mismatch arising from the virus. Loans upto 10 per cent or a maximum of upto Rs 200 crores under exisiting fund based working capital limits