UCO Bank taking initiatives to combat the second wave of COVID pandemic

GUWAHATI: The UCO Bank has taken various initiatives to supplement the government's effort to combat the second wave of COVID-19.

Borrowers are being contacted to ascertain the impact of the second wave of COVID-19 for providing the relief in terms of RBI guidelines dated 05.05.2021.

As of 07.06.2021, the Bank has already extended relief under Resolution Framework 2.0 to 2,314 accounts amounting to Rs 127.00 crore. Eligible borrowers can apply Guaranteed Emergency Credit Line (GECL) 3.0 till September 30 with an additional 10 per cent.

The Bank is providing loans up to Rs 2 crore under 'UCO Sanjeevani' for setting up oxygen plants, producing liquid oxygen, oxygen cylinders etc. The loans are being provided at a concessional rate of 7.50 per cent.

Under 'UCO Aarogyam', financing of up to Rs 100 crore is being provided for creating healthcare infrastructure. Moreover, individuals who are/were infected with COVID-19 can get a maximum loan of Rs 5 lakhs under 'UCO Kavach'.

Under CSR initiatives, the Bank has distributed food grains among poor and needy people affected by lockdown in the vicinity of its Head Office premises.

Also Read: UCO Bank Providing Relief amid COVID Pandemic, Check Bank Policies, Credit Scheme & more

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