State-run Indian Bank has announced an additional funding facility for large corporates (MSME), retail customers, pensioners and self-help groups (SHGs) in the wake of COVID 19. The bank said that IND-COVID Emergency Credit Line will provide additional funding of up to 10 per cent of the working capital limits both fund based and non-fund based limits with a maximum limit of 100 crore rupees. The loan tenor will be for 36 months with an initial moratorium of up to six months and would carry fixed interest rate of 1-year Marginal Cost of Funds based Lending Rate. <br />