Mumbai, Jun 11 (PTI) To help customers who are facing financial stress on account of COVID treatment-related expenses, the State Bank of India (SBI) has launched a collateral-free personal loan scheme.

Under the offering– Kavach Personal Loan, customers can avail loans up to Rs 5 lakh at an effective interest rate of 8.5 per cent per annum for 60 months which is inclusive of three months moratorium, a release said.

The loan will cover the expenses of COVID treatment of self and family members of the customer. It will also cover reimbursement of COVID-related medical expenses already incurred.

“We believe this new scheme will offer much-needed financial assistance to the people to manage the COVID treatment-related expenses without any hassle,” SBI Chairman Dinesh Khar.

******************************* IFSC codes of erstwhile Syndicate Bank branches to change from July 1

*State-run Canara Bank said the IFSC codes of the erstwhile Syndicate Branches will change with effect from July 1, 2021.

The bank amalgamated Syndicate Bank with itself effective April 1, 2020.

Customers have to use the new CANARA IFSC for receiving funds through NEFT/RTGS/IMPS, a release said.

Customers of the erstwhile Syndicate Bank will have to get new cheque books with changed IFSC (Indian Financial System Code) and MICR (Magnetic Ink Character Recognition technology) codes, it said.


Sony Pictures Networks launches podcast

*Sony Pictures Networks India has launched a podcast wherein achievers from diverse fields will be talking to inspire listeners.

An official statement claimed this is the first time a major Indian broadcast company has ventured into audio-streaming.

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