BusinessIndia

RBI Guv announces measures to counter pandemic

Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das on Wednesday announced a slew of measures to counter the pandemic, especially to protect the small and medium businesses, individual borrowers from the adverse impact of the ongoing intense second wave of COVID-19 across the country.

In an unscheduled address, Das said that the situation in the country has reversed from being on the foothills of strong economic recovery to facing a fresh crisis.

He announced an on-tap liquidity facility of Rs 50,000 crore to ease access to healthcare services for all stakeholders in the Covid fight. Under this, banks will be permitted to provide fresh lending support to vaccine makers, manufacturers, logistics firms, etc. Banks are being incentivised to sanction these loans under priority sector classifications, the Governor announced.

 

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