RBI to provide lending hand to various entities under â¹50,000 cr liquidity to ramp up health infra
In the wake of the ongoing second wave of novel Coronavirus creating havoc across the country, the Reserve Bank of India (RBI) has stepped in to lend a helping hand to fight the pandemic.
To counter the Covid second wave, the Reserve Bank of India Governor Shaktikanta Das announced a Rs 50,000-crore on-tap liquidity facility to increase the health infrastructure. In addition to that, the RBI had also announced additional loan restructuring schemes.
The RBI Governor said the liquidity facility was announced to ramp up the healthcare infrastructure given the Covid-19 scare. The liquidity window will have a tenure of three years, with the RBI's Repo Rate, i.e. 4 percent.
As per the liquidity facility, the banks will lend support to entities like the vaccine manufacturers, importers, and suppliers of a wide range of medical devices, importers of Covid-19 vaccines, and other drugs.
Mr. Das announced the liquidity facility while addressing a virtual speech. During the speech, the Governor said, the manufacturing sector in the country was not affected seriously and hoped that once the situation gets under control, the national economy will recover.
It has to be noted that, over the past few days, the RBI Governor has been holding a series of meetings with the officials of banks, non-banking finance companies (NBFCs), and others following the Covid-19 scare.
To counter the Covid second wave, the Reserve Bank of India Governor Shaktikanta Das announced a Rs 50,000-crore on-tap liquidity facility to increase the health infrastructure. In addition to that, the RBI had also announced additional loan restructuring schemes.
The RBI Governor said the liquidity facility was announced to ramp up the healthcare infrastructure given the Covid-19 scare. The liquidity window will have a tenure of three years, with the RBI's Repo Rate, i.e. 4 percent.
As per the liquidity facility, the banks will lend support to entities like the vaccine manufacturers, importers, and suppliers of a wide range of medical devices, importers of Covid-19 vaccines, and other drugs.
Mr. Das announced the liquidity facility while addressing a virtual speech. During the speech, the Governor said, the manufacturing sector in the country was not affected seriously and hoped that once the situation gets under control, the national economy will recover.
It has to be noted that, over the past few days, the RBI Governor has been holding a series of meetings with the officials of banks, non-banking finance companies (NBFCs), and others following the Covid-19 scare.