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Published on 25/06/2021 12:06:38 PM | Source: Accord Fintech

SBI jumps on launching Aarogyam healthcare business loan

Posted in Stock Market| #Banking Sector #Stock Market #SBI

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State Bank Of India is currently trading at Rs. 421.25, up by 4.15 points or 0.99% from its previous closing of Rs. 417.10 on the BSE.

The scrip opened at Rs. 420.05 and has touched a high and low of Rs. 423.10 and Rs. 418.85 respectively. So far 330009 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 442.00 on 03-Jun-2021 and a 52 week low of Rs. 175.55 on 24-Sep-2020.

Last one week high and low of the scrip stood at Rs. 426.30 and Rs. 400.30 respectively. The current market cap of the company is Rs. 376127.75 crore.

The promoters holding in the company stood at 57.63%, while Institutions and Non-Institutions held 34.54% and 7.83% respectively.

State Bank of India (SBI) has launched the Aarogyam healthcare business loan, to provide enhanced support to the healthcare sector amid the pandemic. 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 up to 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/modernisation or as working capital facilities such as cash credit, bank guarantee/letter of credit. In metro centres loans under Aarogyam can be availed up to Rs 100 crore, Tier I & Urban centres up to Rs 20 crore and in Tier II to Tier VI centres upto Rs 10 crore.

SBI is the country’s largest lender and it offers a wide range of services in the Personal Banking, Agriculture/ Rural, NRI services, SME and Corporate Banking etc.