BoB inks pact wtih SIDBI to help MSME revamp loans
Updated:
Updated:
Share Article
AAA
Bank of Baroda (BoB) has signed a memorandum of understanding (MOU) with Small Industries Development Bank of India (SIDBI) to support MSME enterprises through a web-based platform called ‘Asset Restructuring Module for MSMEs (ARM-MSME)’ for submission of their loan restructuring proposal.
Recently the RBI extended the One-Time Restructuring (OTR) window till March 2021 to provide relief to MSMEs under financial stress, with credit exposure of up to ₹25 crore. Through this automated / Do-It-Yourself (DIY) web-portal, MSMEs can self-create their restructuring proposal with financial viability projections and relief options.
Central Bank of India in pact with SIDBI for Asset Restructuring Module for MSMEs
Posted On: 2020-12-29 06:32:33 (Time Zone: Arizona, USA)
Central Bank of India has signed an MOU with SIDBI recently (28th December 2020) at Mumbai to facilitate MSME customers of the bank to use web based Asset Restructuring Module for MSMEs (www.arm-msme.in), a Do-It-Yourself tool. It will help MSME customers to submit Restructuring plan for their units online to Central Bank of India in a simple and easy manner. SIDBI in partnership with local MSME associations have placed credit counselors at different locations to provide hand holding support to MSME units seeking restructuring. All these services are available free of cost.