· This unique loan product is specially designed to support the healthcare ecosystem of the country
· New loans may be availed by way of Cash Credit, Term loan, bank guarantee, letter of credit
· Loan amount ranges from minimum of Rs.10 lakhs to maximum of Rs.100 Cr. (both for expansion & setting up of new facility), repayable in 10 years
· Loans upto Rs. 2 crore will be covered under CGTMSE guarantee scheme
Mumbai, NFAPost: In order to provide enhanced support to the healthcare sector in India amid the pandemic, the State Bank of India has launched the Aarogyam Healthcare Business Loan. Under this new product, entire healthcare ecosystem such as Hospitals, Nursing homes, Diagnostic centres, Pathology labs, Manufacturers, Suppliers, Importers, Logistic firms engaged in critical healthcare supply can avail of loans upto Rs. 100 crore (as per the geographic location) repayable in 10 years.
The Aarogyam Loan can be availed either as term loan to support expansion/modernization or as Working capital facilities such as cash credit, bank guarantee/letter of credit. In metro centres loans under Aarogyam can be availed upto Rs.100 Crores, Tier I & Urban centres upto Rs.20 Crores and in Tier II to Tier VI centres upto Rs.10 Crores.
The beneficiary units/borrowing Companies availing loan of upto Rs. 2 crores will not be required 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).
Financial support
SBI Chairman Dinesh Khara said India’s healthcare system has been providing uninterrupted and phenomenal support over the last year to the country amidst the pandemic.
“Acknowledging and recognizing their contribution in the wake of Covid-19, we are glad to launch the Aarogyam Healthcare Business Loan for them. We believe this special loan product will provide the much needed financial support to enable expansion/modernisation of existing facilities and also creation of new facilities. With Aarogyam Healthcare Business Loan, our endeavour is towards strengthening the healthcare infrastructure across the entire country,” said Dinesh Khara.
Aarogyam Healthcare Business Loan will be eligible under the COVID loan book being created by banks announced by RBI as part of Covid relief measures.
CASA ratio
State Bank of India is the largest commercial bank in terms of assets, deposits, branches, customers, and employees. It is also the largest mortgage lender in the country which has so far fulfilled the home buying dreams of 30 crore Indian families.
The home loan portfolio of the bank has crossed the milestone of Rs. 5 lakh crore. As on March 31, 2021, the bank has a deposit base of nearly Rs. 37 lakh crore with CASA ratio of over 46% and advances of more than Rs. 25 lakh crore. SBI commands a market share of 34.53% and about 32% in home loans and auto loans segment respectively. The bank has auto loan book of Rs. 76,322 crore.
SBI has the largest network of 22,219 branches and 62,671 ATM / CDM in India with BC outlets close to 72,000. The number of customers using internet banking and mobile banking stand roughly at 89 million and 20 million respectively. The integrated digital and lifestyle platform by SBI – YONO has a download figure of 74 million.
