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On June 24, 2021 State Bank of India (SBI) has newly launched ‘Aarogyam Healthcare Business Loan’ in view of the ongoing pandemic. Under this, loan will be provided to the health care sector for expansion/ modernization/ creation of new facilities in the healthcare infrastructure. All the hospital, nursing homes, pathology labs, manufactures, suppliers, importers, logistic firms, diagnostic centres, etc in health care industry will be covered. A loan up to Rs. 100 crores can be availed by any unit of the health care structure. It can be repaid over a period of 10 years. Through this loan product the SBI aims at strengthening the health care infrastructure across the country.
Overview:
| Loan Product: | Aarogyam Healthcare Business Loan |
| Scheme by: | State Bank of India |
| Announced by: | Chairman SBI, Dinesh Khara |
| Announcement Date: | June 24, 2021 |
| Beneficiaries: | Health care units/ companies across the country |
| Major Objective: | To strengthen the health care infrastructure across the country |
Scheme Objectives and Benefits:
- The main objective of the scheme is to provide financial assistance to the health care units across the country
- All the hospital, nursing homes, pathology labs, manufactures, suppliers, importers, logistic firms, diagnostic centres, etc in health care industry will be covered
- Loans will be provided for expansion/ / modernization/ creation of new facilities in the healthcare infrastructure
- Under this, loans upto Rs. 100 crores in metro centres, loans upto Rs. 20 crores in Tier-1 and Urban centres and loans upto Rs. 10 crores in Tier-2 to Tier-4 centres will be provided
- Repayment of the loan can be made anytime within a period of 10 years
- It aims at helping the health care units in these difficult times of the pandemic
- It will help in strengthening the health infrastructure in the country
Key Points:
- State bank of India has newly launched a new loan product – ‘Aarogyam Healthcare Business Loan’ in the view of Covid-19 pandemic on June 24, 2021
- The announcement of the scheme is made by SBI Chairman, Dinesh Khara
- This scheme is launched for the health care units across the country for expansion/ / modernization/ creation of new facilities in the healthcare infrastructure
- It is a part of the covid loan book prepared by banks as per RBIs guidelines on covid relief measures
- Under this, all the hospital, nursing homes, pathology labs, manufactures, suppliers, importers, logistic firms, diagnostic centres, etc in health care industry will be covered
- Loans upto Rs. 100 crores in metro centres, loans upto Rs. 20 crores in Tier-1 and Urban centres and loans upto Rs. 10 crores in Tier-2 to Tier-4 centres will be provided
- This loan will be collateral free for those health care units availing loans upto Rs. 2 crores as it will be covered under guarantee scheme of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE)
- It will be provided over and above the existing loans taken by the unit/ company
- It can be repaid within a period of 10 years from the issuing date
- Chairman Dinesh Khara stated that this is a special loan product launched to provide essential financial support to the health care units thereby contributing to strengthening the healthcare infrastructure across the entire country
