Central Bank of India on Apr 29, 2020 launched loan schemes to offer liquidity support to micro, small and medium enterprises (MSMEs), agriculture and self-help group borrowers that have been hit by the COVID-19 lockdown.
- For MSME borrowers, the bank is offering an emergency credit line of up to 10% of their existing fund based working capital limits, with a maximum limit of ₹50 crore.
- The duration of these loans is 18 months and the first six months as moratorium.
This scheme will be available till June 30, 2020.
- Liquidity support to existing Kisan credit card holders or term loan borrowers for crop/fisheries/poultry/dairy/animal husbandry between ₹10,000 to ₹50,000.
- For Self-help group borrowers, the bank is providing finance of ₹5,000 per member and up to ₹1 lakh per SHGs.
The schemes for agricultural and SHG borrowers will be available till 30 September 2020.