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Nearly 53,000 MSME customers of Tamilnad Mercantile bank will be able to avail additional loan under the Guaranteed Emergency Credit Line Scheme, the bank’s Managing Director K V Ramamoorthy said.
Stating that the bank has made elaborate arrangements to provide the additional loan (20 per cent of the outstanding as on February 29) to the existing, eligible MSME units, he said “instructions have been issued to all branches covering the scheme guidelines, and disbursements have since started.
“We will not levy any guarantee fee, processing fee or any other charge on the loans sanctioned under the scheme,” he said.
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