Industry

Canara Bank introduces waivers to help customers in cash flow issues

Canara Bank has already announced waiver of charges for non -maintenance of minimum balance in SB accounts and waiver of ATM charges for using other Bank ATMs for cash withdrawals until June 30th.

Canara Bank has on Tuesday asked all its customers in the country to stay safe and connect to the bank through various digital modes, in the wake of Covid-19.

Canara Bank has already announced waiver of charges for non -maintenance of minimum balance in SB accounts and waiver of ATM charges for using other Bank ATMs for cash withdrawals until June 30th.

Canara Bank, in a statement said, it introduced a new loan scheme ( Canara Credit Support) with immediate effect to support its customers to tide over the liquidity/ cash flow mismatches in the the wake of disruption in business operations due to recent outbreak of Covid 19.

Under this new scheme (Canara Credit Support - Covid 19) MSME/ Corporates/Agri/ Business Entities/ Retail Borrowers would be eligible to avail from 10% to 35% of their existing Working Capital or loan limit depending upon category of borrowers on softer terms.

No additional security is required for the said facility, as per the Bank.

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Printable version | Apr 7, 2020 3:51:41 AM | https://www.thehindu.com/business/Industry/canara-bank-introduces-waivers-to-help-customers-in-cash-flow-issues/article31166733.ece

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