State Bank of India (SBI) has launched an emergency credit line to provide some degree of relief to its the borrowers whose operations are impacted by Covid-19. The credit line is open for all standard accounts which have not been classified as SMA 1 or 2 as on March 16, 2020 are eligible to avail this credit line. Borrowers can maximum avail 10 per cent of the existing fund based working capital limits, subject to a cap of Rs 200 crore.
SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.
