New Delhi, May 25 -- Bank of Baroda (BOB) has decided to offer up to Rs 12,000 crore in loans to Micro Small and Medium Enterprises (MSMEs) under the Rs 3 lakh crore Emergency Credit Line Guarantee Scheme (ECLGS) announced by the government.
The government had last week announced a Rs 3-trillion fund for MSMEs as part of the Rs 20-trillion economic revival package.
All existing MSME borrowers with outstanding credit of up to Rs 25 crore as on February 29 and with an annual turnover of up to Rs 100 crore would be eligible for funding under the scheme.
In our case, that particular portfolio amounts to be Rs 58,000 crore. Therefore, the bank can target up to Rs 12,000 crore of lending to MSMEs clients in the times to come under the guara...