2021-05-05 09:59:43
RBI Announces New Measures Amid Covid Second Wave
On-tap liquidity of Rs 50,000 crore at repo rate is being opened till March 31, 2022.
Under the scheme banks can support entities including vaccine manufacturers, medical facilities, hospitals and also patients.Such lending will get priority sector classification till repayment or maturity.
Banks to create a Covid loan book under the scheme.
Such banks can park liquidity equal to Covid loan book at 40 basis points above the reverse repo rate.
The RBI has announced a targeted long term repo operation for small finance banks of upto Rs 10,000 crore.
The funds can be used for lending of upto Rs 10 lakh per borrower. T.me/Dailynewsexpress
SFBs permitted to on-lend to smaller microfinance institutions of asset size upto Rs 500 crore.
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