The Hindu Business Line : BoB loans for wet grinder makers

Bank of Baroda has launched a scheme for financing wet grinder manufacturing and assembling units here. Its Executive Director, Mr V. Santhanaraman, who was here to launch the product said, financial assistance would be provided under the scheme for purchase of machinery and also towards working capital requirement up to Rs 50 lakh at 11 per cent. “The scheme is flexible. We will not insist on collateral security or third party guarantee,” he said. He later tol d Business Line that the bank evolved region-specific schemes and would continue to look for such products to cater to different segments. The introduction of the wet grinder manufacturing and assembling units loan scheme is expected to benefit about 500 small-scale units in the region. —

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