SBI unveils emergency credit line for borrowers amid coronavirus outbreak

India’s largest lender State Bank of India has recently unveiled an emergency credit line to meet liquidity mismatch for its borrowers, amid the coronavirus pandemic scare.

The additional liquidity facility called Covid-19 Emergency Credit Line (CECL) will provide credit up to 200 crore rupees. This loan facility will be available till June 30 where the loan will be offered at an interest rate of 7.25 per cent with a 12-month tenure.