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‘Aarogyam Healthcare Business Loan’-- SBI

Published on June 26, 2021
Current Context: The State Bank of India (SBI) launched the Aarogyam Healthcare Business Loan facility.
‘Aarogyam Healthcare Business Loan’-- SBI
  • The loan facility offers support to the healthcare sector during the COVID-19 pandemic situation.
  • The loan facility can be availed by the entire healthcare ecosystem like hospitals, nursing homes, diagnostic centres, pathology labs, manufacturers, suppliers, importers, logistic firms which are involved in the healthcare sector.
  • The healthcare ecosystem can avail of loan up to Rs 100 crore (as per the geographic location) under the Aarogyam Healthcare Business Loan facility.
  • The loan is to be repayable in 10 years.
  • The loan can be availed either as a term loan to support expansion or modernisation or as working capital facilities such as cash credit, bank guarantee/letter of credit.
  • The loan under this facility for metro cities can be availed up to Rs 100 crore, for Tier I & Urban centres up to Rs 20 crore and in Tier II to Tier VI centres up to Rs 10 crore.
  • Also, the healthcare units availing the loan of up to Rs 2 crore are not supposed to offer any collateral or security to the bank as this will be covered under the guarantee scheme of Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE).
  • Thus the Aarogyam Healthcare Business Loan aims to strengthen healthcare infrastructure and deal with the pandemic.
  • Static Part: 
    • HQ of SBI: Mumbai
    • Chairman of SBI: Dinesh Kumar Khara
    • Founded: 1955

Question: 

Q.1 Which bank launched Aarogyam Healthcare Business Loan?
a. IndusInd Bank
b. South Indian bank
c. Bank of Baroda
d. State Bank of India

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