Monday 25 May 2020
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Bank of Baroda to offer up to Rs 12k cr loans to MSMEs under credit guarantee scheme

State-run Bank of Baroda on Saturday said it can offer up to Rs 12,000 crore in loans to MSMEs under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) announced by the government. Last week, Finance Minister Nirmala Sitharaman had announced a 100 per cent credit guarantee scheme worth Rs 3 lakh crore to support the medium, small and micro enterprises (MSMEs) which have been adversely affected by the coronavirus crisis. All existing MSME borrowers with outstanding credit of up to Rs 25 crore as on February 29 and with an annual turnover of up to Rs 100 crore would be eligible for funding under the scheme. In our case, that particular portfolio amounts to be Rs 58,000 crore. So, 20 per cent of that would be around Rs 10,000 crore to Rs 12,000 crore. This, we can make available to our MSME clients in the times to come under the guaranteed scheme of the government, the bank s Managing Director and CEO Sanjiv Chadha told reporters through a video conference. The ECLGS ...


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