Money & Banking

Andhra Bank opens Covid-19 emergency credit line

Our Bureau | Updated on March 27, 2020 Published on March 27, 2020

 

Andhra Bank has opened an emergency credit line by launching a new short-term loan facility. The Covid-19 Emergency Credit Line (CECL) is being offered to agriculture, Micro, Small and Medium Enterprises (MSMEs) and corporates to meet temporary liquidity mismatches.

“The scheme is aimed at providing assistance to the industry segment whose business operations have been affected due to stress in supply chains, decreased demand for the product, delayed realisations of the receivables, lockdown of the units, non-availability of labour and raw materials due to Covid-19,” Andhra Bank said in release on Thursday.

The details of the scheme and other modalities can be obtained from the bank branches.

Published on March 27, 2020
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