Hyderabad: UCO Bank offers new schemes
New schemes included restructuring of stressed accounts; extension of relief amounting Rs127 crore, new product launches including three new credit schemes
Hyderabad: The UCO Bank has taken various initiatives to supplement the government’s effort to combat the second wave of Covid-19.
According to a press release, these included restructuring of stressed accounts; extension of relief amounting Rs 127 crore, new product launches including three new credit schemes.
These included UCO Sanjeevani, under which loans up to Rs 2 crore for setting up oxygen planta, producing liquid oxygen, oxygen cylinders etc. was being provided. There were also insurance products like Corona Kavach and Corona Rakshak – Covid specific floater policies, among several others.
The bank also announced a compensation of Rs.20 lakh as a financial assistance to family members of staffs for death due to Covid-19. Term loan facility for purchasing oxygen concentrator and interest free salary advance to all employees, reimbursement of cost of Covid test for all employees vaccination of all employees and family members were also being done, the press release added.
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