Bank of Baroda’s interest subvention scheme

CHENNAI: The Bank of Baroda has come up with a scheme to provide 2 per cent interest subvention to all SHISHU category of borrowers whose accounts were standard as of March, 2020. 

According to a statement, the borrowers who have not availed moratorium on repayment of their loan dues, as per RBI guidelines, will receive interest subvention from June 2020 to May 2021 for the months the accounts run in standard category. 

The borrowers who have availed moratorium on repayment of their loan dues, as per RBI guidelines, will receive interest subvention from September 2020 to August 2021 for the months the accounts run in standard category.