Edelweiss announces strengthening of its Co-Lending partnership with Central Bank of India for MSMEs equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Edelweiss strengthens co-lending partnership with CBoI for MSMEs
By IANS |
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Edelweiss strengthens co-lending partnership with CBoI for MSMEs . (Twitter). Image Source: IANS News
Mumbai, June 1 : Edelweiss Retail Finance Limited (ERFL), an arm of the Edelweiss Group on Tuesday announced strengthening of its existing Co-Lending partnership with Central Bank of India (CBoI), one of India s largest commercial banks for Priority Sector Lending to MSMEs (Micro, Small and Medium Enterprises).
The lenders recently signed a new MoU under RBI s CLM, expanding the portfolio of lending products available to MSMEs, who can now avail of collateral free business loans up to Rs 50 lakh as against Rs 10 lakh earlier. Additionally, they can also avail of LAP Loans (with property backed collateral), up to Rs 10 crore. Building on the success of their partnership, the lenders have collaborated to introduce specially designed products with increased loan limits for the MSME segmen
The Reserve Bank of India (RBI) will give banks Rs 50,000 crore to enable them to lend further for healthcare needs in the Covid-19 crisis, said governor Shaktikanta Das on Wednesday. “India has mounted a valiant defence against Covid-19. The RBI will continue to monitor the emerging situation and deploy all instruments at its command, said Das at an unscheduled briefing where he listed measures the central bank will take to support the economy during a second wave of infections. “On-tap liquidity of Rs 50,000 crore at repo rate is being opened till March 31, 2022. Under the scheme banks can support entities including vaccine manufacturers, medical facilities, hospitals and also patients,” said Das.
Reserve Bank of India Governor Shaktikanta Das.
| Photo Credit:
PTI
In an unscheduled address, the Governor said that the situation in the country has reversed from being on foothills of strong economic recovery to facing a fresh crisis.
The Reserve Bank of India (RBI) on May 5 announced several measures to protect small and medium businesses, individual borrowers from the adverse impact of the intense second wave of COVID-19 across the country.
It has also made provisions for banks to advance loans to businesses and restructure loans for enhancing liquidity in the system to help mitigate the crisis.
The RBI announced a Resolution Framework 2.0 for COVID-related stressed assets of individuals, small businesses and MSMEs and also expressed its resolve to do everything at its command to ‘save human lives and restore livelihoods through all means possible’.
RBI allows farmers enhanced loan on produce pledges
By IANS |
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Farmer. (File Photo: IANS). Image Source: IANS News
Mumbai, April 7 : With a view to encourage farm credit, the RBI on Wednesday decided to enhance the loan limit for individual farmers.
Individual farmers will now be eligible for an enhanced loan amount of Rs 75 lakh from banks against the pledge or hypothecation of agricultural produce.
The borrowing limit under the scheme was earlier capped at Rs 50 lakh.
As per RBI s statement on developmental and regulatory policies that enhanced borrowing limit for farmers against pledge of agricultural produce will be available if such pledges are backed by Negotiable Warehouse Receipts (NWRs)/electronic-NWRs (e- NWRs) issued by the warehouses registered and regulated by Warehousing Development and Regulatory Authority (WDRA).