Indian Overseas Bank (IOB) has rolled out a special credit facility for its existing borrowers from the agriculture sector and allied activities, which have been impacted by the coronavirus pandemic. The working capital demand loan is available to all its existing borrowers from poultry, dairy, fisheries and other allied activities and infrastructure activities such as cold storage and rural godowns.
The bank will be offering loans of 10 per cent of the existing fund based working capital limit with a maximum of Rs 10 crore to the poultry sector. For other allied activities, it is offering Rs 2 crore of loans.
Indian Overseas Bank is a pioneer in many fields - Banking, Insurance and Industry with the twin objectives of specialising in foreign exchange business and overseas banking.
