Canara bank launched Healthcare Credit, Business, & Personal Loans

Published on May 31, 2021
Current Context: The Canara Bank has rolled out three loan schemes to grant relief to its customers amid the coronavirus pandemic.
Canara bank launched Healthcare Credit, Business, & Personal Loans
  • The bank has launched healthcare credit, business, and personal loan schemes to its customers.
  • The name of the loan schemes are: (a) Canara Suraksha personal loan scheme (b) Canara Chikitsa healthcare credit facility (c) Canara Jeevanrekha healthcare business loan
    • (a) Canara Suraksha personal loan scheme: Under this, the bank will grant loans from Rs 25,000 to Rs 5 lakh as immediate financial assistance to its customers for the Covid-19 treatment during admission or post-discharge. A moratorium of 6 years will be offered and the scheme is valid till 30th Sept 2021.
    • (b) Canara Chikitsa healthcare credit facility: Under this, the bank will grant loans from Rs 10 lakhs to Rs 50 crore to the hospitals, nursing homes, medical practitioners, diagnostic centres, pathology labs, and all other units engaged in providing healthcare infrastructure and which are particularly registered under Canara Bank. The loan will have a tenure of 10 years with a moratorium of up to 18 months. The scheme will be valid till 31st March 2022.
    • (c) Canara Jeevanrekha healthcare business loan: Under this, the bank will grant loans upto Rs 2 crore to manufacture and supply healthcare products to registered hospitals and nursing homes or other manufacturers and supplier. The scheme will be valid till 31st March 2022. For MSME, there will be no collateral security, which the lender will cover under Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), and the bank will bear the guarantee premium. For the non-MSMEs, the collateral security will be minimum of 25%.
  • For each type of loan scheme, no processing fee will be charged.
  • Static Part: 
    • HQ of Canara Bank: Bengaluru
    • Tagline of Canara Bank: Together we can

Question: 

Q.1 Name the loan scheme launched by Canara bank in May 2021?
a. Canara Jeevanrekha healthcare business loan
b. Canara Suraksha personal loan scheme
c. Canara Chikitsa healthcare credit facility
d. All of the above

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