BoB inks pact wtih SIDBI to help MSME revamp loans
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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.