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India city Mumbai covid-19 pandemic crisis salaries India city Mumbai

PSBs to extend loans so firms can continue ops and pay salaries

India city Mumbai covid-19 pandemic crisis salaries
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MUMBAI : State-run banks have stepped up with emergency funds to help companies continue operations and even pay employee salaries, as corporate borrowers frantically seek help to tide over the crisis caused by the Covid-19 pandemic, according to two people aware of the development.

Banks are also relaxing repayment terms for these loans to help customers tide over the current period of uncertainty. At least three state-run banks, State Bank of India (SBI), Union Bank of India and Indian Bank sanctioned emergency credit lines, while Bank of Baroda (BoB) and Bank of India are expected to approve something similar in the coming days.

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
Cases: 34 321 025
Deaths: 459 652
Recovered: 0
Brazil
Brazil
Cases: 21 835 785
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Recovered: 0
United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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