Dinesh Khara, chairman of the SBI, explains the launch of the RBI relief measures for SMEs on May 5th; ECLGS extended

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State Bank of India (SBI) chairman Dinesh Khara spoke at a press conference on May 30, 2021 about loans for SMEs, the Covid-19 resurgence and RBI’s May 5, 2021 relief efforts.

SBI press conference HIGHLIGHTS: State Bank of India (SBI) chairman Dinesh Khara spoke at a press conference on May 30, 2021 about SME loans, the Covid-19 resurgence and RBI’s May 5, 2021 relief efforts on May 5, 2021 announced, will be rolled out. He said that PSBs have formulated a template approach to restructuring loans to individuals, small businesses and MSMEs up to Rs.25 billion. To contact the bank for a solution, customers can submit an application on the portal on the bank’s website and submit applications manually at the branch. Khara also announced that the government will provide a 100% guarantee on loans up to Rs 2 crore to hospitals / nursing homes etc. for the construction of on-site oxygen generation facilities with an interest rate cap of 7.5%. The validity of ECLGS has also been extended until September 30, 2021, or until guarantees have been issued for an amount of Rs 3 lakh crore. The payout under the scheme was permitted until December 31, 2021.



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