Announcement made in press conference organized by SBI and IBA
New Delhi, May 30 (IANS)| Public Sector Banks (PSBs) will provide unsecured personal loans up to Rs 5 lakh to enable people to get proper treatment for COVID-19. The decision was taken in the wake of the second wave of the coronavirus pandemic and was announced at a press conference jointly organized by State Bank of India and Indian Banks’ Association (IBA).
A joint statement said that PSBs will provide unsecured personal loans ranging from Rs 25,000 to Rs 5 lakh to salaried, non-salaried and pensioners for treatment of Covid.
It further said that state-owned banks would provide healthcare business loans for setting up oxygen plants under the revised ECGLS norms. It was also announced by the Finance Ministry on the same day that under ECLGS 4.0, 100 per cent guarantee will be given for loans up to Rs 2 crore. The interest rate limit for these loans has been fixed at 7.5 percent. That is, banks can give loans at a rate less than this limit.
They will offer business loans up to Rs 100 crore for healthcare facilities to set up healthcare infrastructure and manufacturing hubs for healthcare products.