Bank of Baroda has disbursed Rs 2,300 crore to Micro, Small and Medium Enterprises (MSMEs) to help them meet liquidity requirement. Under the scheme, the bank provides an additional line of credit of 10 per cent of the existing fund based on working capital limits, subject to a maximum of Rs 200 crore.
The MSME sector was already under the stress far the past few years due to economic slowdown and their financial position got further exacerbated due to the lockdown. The bank is looking at reassessment of working capital for the sector and after the assessment, will enhance their capital so that they have enough liquidity to undertake activity smoothly.
Bank of Baroda is engaged in providing various services, such as personal banking, corporate banking, international banking, small and medium enterprise (SME) banking, rural banking, non-resident Indian (NRI) services and treasury services.
