{"id":143,"date":"2020-04-10T03:42:00","date_gmt":"2020-04-10T03:42:00","guid":{"rendered":"https:\/\/blog.kisansabha.in\/?p=143"},"modified":"2020-05-07T03:46:40","modified_gmt":"2020-05-07T03:46:40","slug":"covid-19-bank-of-maharashtra-launches-financial-support-schemes","status":"publish","type":"post","link":"https:\/\/blog.kisansabha.in\/index.php\/2020\/04\/10\/covid-19-bank-of-maharashtra-launches-financial-support-schemes\/","title":{"rendered":"Covid-19: Bank of Maharashtra launches financial support schemes"},"content":{"rendered":"\n
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The bank is providing \u2018Emergency Credit Line- Personal Loan Scheme- Covid 19\u2019 in the form of term loan for all standard housing loan accounts<\/h4>\n\n\n\n

Bank of Maharashtra (BoM) has announced various schemes for the corporate, retail, and agriculture sector to ensure immediate financial assistance against the backdrop of Covid-19 crisis.<\/p>\n\n\n\n

\u201cFor corporates, BoM is providing \u2018Ad-hoc Line of Credit Covid-19\u2019 by way of SLC (Stand by line of Credit) to overcome the liquidity impact of Covid-19. This facility can be availed in the form of working capital\/STL. Borrowers having standard accounts can avail of this facility.<\/p>\n\n\n\n

The quantum of finance is maximum up to 10 per cent of the existing fund based working capital limit, maximum up to \u20b950 crore,\u201d the bank said in a release. This creditwill be in addition to the existing finance. The repayment for this scheme would be within a maximum period of 12 months and the moratorium will be for a period of six months.<\/p>\n\n\n\n

Existing borrowers<\/h4>\n\n\n\n

For existing housing loan borrowers, BoM is providing \u2018Emergency Credit Line- Personal Loan Scheme- Covid 19\u2019 in the form of term loan for all standard housing loan accounts, where security charge is completed and repayment started. Existing housing loan borrowers who have already availed personal loans are also eligible, subject to deduction norms. The quantum of finance is up to \u20b93 lakh. Maximum repayment period is 36 months, including six months\u2019 moratorium.<\/p>\n\n\n\n

Under the \u2018Mahabank SHG Rahat Yojana- Covid 19\u2019 scheme, the BoM will provide additional support to existing SHGs in the form of term loan. The quantum of loan is decided as \u20b97,500 per SHG member and total maximum limit (including existing loan) is up to \u20b93lakh per SHG. This term loan is to be repaid within 36 months. The repayment for this scheme would be on a monthly\/quarterly\/half-yearly basis as per borrower SHG\u2019s request and the moratorium will be for a period six months.<\/p>\n\n\n\n

Farmer scheme<\/h4>\n\n\n\n

Under the Covid-19 Mahabank Kisan Rahat Yojana for agro-based industries\/units, the objective is to meet the temporary liquidity mismatch of agro and food processing industries arising from Covid-19 disruption. A limit of 10 per cent of existing FBWC limits up to \u20b910 crore may be sanctioned. Repayment is within 12 months, excluding a moratorium period of up to six months. The repayment for this scheme would be on a monthly\/quarterly\/ half-yearly basis as per borrower request.<\/p>\n\n\n\n

Under the scheme , BoM will provide instant credit for the farming community to meet the emergent funds\u2019 requirement for farm maintenance and other farm-related activities and related domestic purpose. The limit stands at 50 per cent of the existing KCC sanction limit \/TL limit, minimum amount being \u20b910,000 and maximum \u20b91,00,000 for existing KCC account holders having regular repayment. The total tenor of the scheme is 30 months, which includes moratorium of six months. Repayment would be on a half-yearly\/yearly basis as per borrower request.<\/p>\n\n\n\n

AS Rajeev, Managing Director and CEO, BoM, in a press statement said: \u201cWe are with our existing borrowers, self-help groups and the farmers during these difficult times, so that their emergent fund needs are met with ease. We urge our borrowers to avail of these special schemes to meet their liquidity mismatch on account of the Covid-19 outbreak.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

The bank is providing \u2018Emergency Credit Line- Personal Loan Scheme- Covid 19\u2019 in the form of term loan for all standard housing loan accounts Bank of Maharashtra (BoM) has announced various schemes for the corporate, retail, and agriculture sector to ensure immediate financial assistance against the backdrop of Covid-19 crisis. \u201cFor corporates, BoM is providing 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