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Coronavirus: Emergency business loan scheme revamped after criticism

Coronavirus: Emergency business loan scheme revamped after criticism

Business
The emergency loans scheme for businesses struggling to survive amid the coronavirus pandemic has been revamped following strong criticism.The Treasury said it had received more than 130,000 loan enquires from firms but fewer than 1,000 had been approved.Business Secretary, Alok Sharma, said the changes to the scheme would make it easier for firms to access loans.The chancellor will speak to the bosses of banks, which have been accused of taking advantage of the crisis.Banks under fire for coronavirus loan tacticsThe changes to the business interruption loan scheme will mean more businesses are able to access financial support during the lockdown.Previously, government-backed loans for small businesses were only available to firms that had been turned dow...

Sports news LIVE: Levy’s £3m stadium bonus revealed as Tottenham announce pay cuts, ‘idiotic’ Grealish blasted, ECB announce emergency funding package

Sports
[unable to retrieve full-text content]We will bring you all the latest sports news and updates on how the coronavirus outbreak continues to affect the sporting calendar.. Headlines: Tottenham furlough staff with 550 employees taking 20 per cent pay cuts as accounts show Daniel Levy is highest-earning Premier League club executive The National League has announced the indefinite suspension of […] talkSPORT
More than dozen PSBs announce COVID-19 emergency credit line

More than dozen PSBs announce COVID-19 emergency credit line

Finance
New Delhi: More than a dozen public sector banks out have announced COVID-19 Emergency Credit Line to deal with the hardship faced by various sectors of the economy. Though public sectors banks (PSBs) were quick to respond with steps to deal with the hardship faced by various sectors of the economy, private sector banks such as ICICI Bank, HDFC Bank and Axis Bank are yet to come out with any relief measures for their customers. As many as 15 PSBs out of the total 18 government-owned banks till Thursday evening announced schemes to mitigate hardship faced by various segments. Taking the lead, the country's largest lender SBI last week announced an emergency credit line to meet any liquidity mismatch for its borrowers. The additional liquidity facility COVID-19 Emergency Credit Line (CECL...
SBI announces emergency credit line in light of COVID-19

SBI announces emergency credit line in light of COVID-19

Finance
Mumbai: India’s largest lender State Bank of India became the first bank to open an emergency credit facility for borrowers affected by the Coronavirus outbreak. In a three-page departmental circular addressed to all its chief general managers, the state-owned lender directed that a maximum loan amount of upto Rs 200 crores or 10 percent of the existing fund based working capital limits can be availed under this emergency line. The facility will be available till end of June and will be specifically aimed at MSME borrowers. These loans will be given at a flat rate of 7.25%. “With a view to provide some degree of relief to the borrowers whose operations are impacted by Covid 19, it is decided by the Bank to make available additional credit facilities to the eligible existing borrowers by wa
Coronavirus: Emergency legislation ‘will protect NHS volunteers’

Coronavirus: Emergency legislation ‘will protect NHS volunteers’

Health
The government has outlined emergency legislation to tackle coronavirus, including measures to allow people to leave their jobs and volunteer to care for those affected. Proposals would also allow court cases to be heard via video links.It comes ahead of an expected move from the UK's "containment" phase of the outbreak response to "delay".Meanwhile, Chancellor Rishi Sunak has pledged to address the outbreak in his first Budget on Wednesday.The emergency coronavirus legislation could be introduced in the House of Commons this month, BBC political correspondent Chris Mason said.By Saturday, the number of confirmed cases in the UK had risen to 209 from 164 the day before, and two people have died after contracting the virus - the latest being an 83-year-old...