There is a facility of standby line of credit for MSMEs as well as
PNB COVID-19 Emergency Credit Facility (PNB-CECF), the bank said.
Punjab
National Bank on Wednesday said it has opened an emergency credit line for
the MSME sector to help it tide over liquidity issues amid the coronavirus
crisis.
It has also liberalised the working capital assessment (LWCA) model for MSME borrowers having limits of Rs 5 crore and above, the state-owned lender said at a webinar hosted with industry body PHD Chamber to address the issues of micro, small and medium enterprises.
There is a
facility of standby line of credit for MSMEs as well as PNB COVID-19
Emergency Credit Facility (PNB-CECF), the bank said.
There are also
other policy initiatives like restructuring of MSME advances, interest
subvention scheme, TReDS, Mudra loan products, Credit Guarantee Trust for MSMEs
and PSB loans in 59 minutes, it added.
The bank's MD and
CEO SS Mallikarjuna Rao said in the backdrop of the nationwide lockdown, the
bank has organised the webinar to address the liquidity requirement of its
customers through the online platform.
This forms a part
of its 'Mega MSME Outreach' aimed at connecting with its MSME customers across
the country and to address their challenges.
He said the bank
has witnessed a humongous response from borrowers across the country through
this outreach programme.
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