COVID - 19 RELIEF FOR SISCO BANK CUSTOMERS Details

COVID - 19 RELIEF FOR SISCO BANK CUSTOMERS 08 July 2020

SISCO Bank announces the following relief measures for business concerns who have availed investment market loans/working capital loans from SISCO Bank and are experiencing capital inadequacy owing to the factors relating to COVID- 19. Units engaged in Service sector like hotels, travel agencies, transporters, educational/training institutes, restaurants and smaIl manufacturing/production/agro enterprise units etc are encouraged to avail this facility. Banks offer of relief would constitute additional sanction of term roan/working capital up to 25% of the previous sanction to meet the liquidity shortfall for business. Rephasement of the composite loan would also be considered in deserving cases. The facility would be extended to bank borrowers whose business have been adversely affected due to COVID-19 pandemic. Borrowal account should not be defaulting or NPA classified as on 01/02/2020.Home Branch may be contacted by existing borrowers to avail the benefit. Also, existing depositors (non borrowers) of the bank wanting to make fresh borrowings for engagement in income generating ventures are also invited to the respective branches for appropriate credit counseling.