Public sector banks (PSB) will provide unsecured personal loans of up to Rs5 lakh to individuals for meeting their expenses of Covid treatment. The decision, which comes in the wake of the severe second wave of Covid-19, was announced jointly at a press conference by the State Bank of India and the Indian Banks’ Association (IBA).
PSBs will provide “unsecured personal loans to individuals from Rs25,000 to Rs5 lakhs for salaried, non-salaried and pensioners for meeting Covid treatment”, said a joint statement. It further said that the state-owned banks will provide healthcare business loans for setting up oxygen plants under the revised ECGLS norms.
