Canara Bank has launched a new loan scheme for small businessmen. The bank has given information about this through Twitter. Under the scheme, small businessmen will be provided GST return based loans which they can use to expand their business. At the same time, this entire process has been kept digital for the convenience of businessmen. The bank has said that in the offer, working capital loans will be given to small businessmen at low rates.

What is special in the scheme

According to the information given by the bank, it has launched the Digital Loan Canara e-GST Scheme. Under this scheme, GST return based working capital business loan will be offered to MSMEs. According to the bank, this entire process will be digital from start to finish, which will make it very easy for businessmen from applying for a loan to getting the amount. This loan will be collateral free under credit guarantee coverage. According to the rules, a businessman will get a loan of maximum 25 percent of his GST turnover of the last 12 months, with a limit of up to Rs 10 lakh, under this scheme a loan of at least one lakh rupees will be given. Those businessmen will be eligible for this scheme whose at least 75 percent of GST transactions have been done through current account. According to the bank, loans will be offered at low rates under this scheme. How can you apply The bank has informed that applicants can apply for the loan online, for this they have to visit https://portal.digiloans.canarabank.in/MSMELoanPortal/. Apart from this, businessmen can visit the bank branch and get information about the product. Keep in mind that many cases of fraud have also come to light in the name of loan offers, where fraudsters have cheated by copying an attractive product of the bank. In such a situation, first get complete information by visiting the official website of the bank or through the bank branch and then complete the application process. How was the stock performance? In Friday's trading, Canara Bank's stock closed at 105 with a gain of 0.24 percent. The stock had closed below 75 a year ago. That is, the stock has seen a gain of 40 percent in a year. However, in June this year, the stock also reached the level of 130. There has been pressure on the stock since June. In October last year, the stock made a year's low of 68.44. That is, the stock has got a maximum return of 90 percent between low and high. At the same time, the stock has fallen 19 percent from the high till now.