State-run lender Bank of Maharashtra (BoM) has announced emergency credit lines for its corporate and retail customers who are facing a liquidity crunch in view of the nationwide lockdown.
For the companies, the Pune-based lender isplanning to provide an ad hoc line of credit which can be availed in the form of working capital.
“Borrowers having standard accounts can avail this facility. The quantum of finance is maximum up to 10% of the existing fund-based working capital limit, maximum up to ₹50 crore. This finance will be in addition to the existing finance,” the bank said. The repayment for this scheme would be within the maximum period of 12 months and the moratorium will be for six months.
For existing housing loan borrowers, the bank is providing an emergency personal loan scheme. Under this scheme, existing housing loan borrowers can avail loan up to ₹3 lakh. The maximum repayment will be 36 months, including six months of moratorium.
The bank has also announced a scheme for agro-based food processing industries where up to ₹10 crore of additional loan can be sanctioned.
