Kovid-19: Government banks will provide loans up to 5 lakh rupees for treatment.

New Delhi: Public sector banks (PSBs) will provide unsecured personal loans of up to Rs 5 lakh to individuals to meet their expenses of Kovid treatment.

The decision, which comes in the wake of the severe second wave of Kovid-19, was announced at a press conference jointly by the State Bank of India and the Indian Banks’ Association (IBA).

A joint statement said that PSB will provide unsecured personal loans ranging from Rs 25,000 to Rs 5 lakh to salaried, non-salaried and pensioners for the treatment of Kovid.

It further stated that state-owned banks would provide healthcare business loans to set up oxygen plants under the revised ECGLS norms. The finance ministry announced earlier in the day that under ECLGS 4.0, a loan of up to Rs 2 crore, limited to 7.5 per cent, would be given to hospitals and nursing homes to set up oxygen plants, backed with 100 per cent guarantee cover. NCGTC.

They will offer business loans of up to Rs 100 crore for healthcare facilities to establish manufacturers of healthcare infrastructure and healthcare products.

“All the above schemes are being offered by public sector banks at concessional interest rates and will form part of the Kovid loan book,” the statement said.

In relation to the ‘Resolution Framework 2.0’, the PSB has designed a template approach for restructuring loans.

Three categories have been created to address business loans – loans up to Rs 10 lakh, loans from Rs 10 lakh to Rs 10 crore and loans above Rs 10 crore.

Further, in the case of loans to individuals also, PSBs have come out with a strategic approach for seamless implementation in an effective manner.

(IANS)

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