Bank of Baroda to advance Rs 12,000 crore to MSMEs under govt scheme

Bank of Baroda (BoB) will lend up to Rs 12,000 crore to micro, small and medium enterprises (MSMEs) under the government’s 100 per cent credit guarantee scheme, the public sector lender said on Saturday.

The government had last week announced a Rs 3-trillion fund for MSMEs as part of the Rs 20-trillion economic revival package.

Under the scheme, the government will offer 100 per cent guarantee on loans.

Bank and finance companies can extend emergency credit line of up to 20 per cent of their outstanding credit as of February-end.
 

Sanjiv Chadha, managing director and chief executive office, BOB,