SBI facilitates loan service for Fani-affected entrepreneurs in Odisha

Bhubaneswar: The State Bank of India (SBI) has announced that it will facilitate loan services for all the cyclone-affected entrepreneurs in the State under various schemes of the bank. Also, loans already applied by businessmen who have been affected by Fani will be soon sanctioned by the SBI.

The Bank will further provide coverage to the beneficiaries registered under SBI General Insurance.

As per reports, SBI loans applied by 600 pending customers for commercial purpose will be sanctioned within 7 days under various government schemes such as Mudra Yojana and others. Fresh loans applied by the entrepreneurs will also be sanctioned within a short period. Yesterday, SBI reportedly sanctioned business loans for 25 customers.

"We are sanctioning loans for the Fani victims under National Urban Livelihood Mission, Mudra Loan and Prime Minister Employment Guarantee Program. Beneficiaries of SBI General Insurance will receive coverage for the units which have been damaged," informed SBI DGM, Satya Narayan Panigrahi.