INSUBCONTINENT EXCLUSIVE:
As part of the scheme, banks can provide fresh lending support to contact-intensive sectorsThe Reserve Bank of India (RBI) in its bi-monthly
window of Rs 50,000 crore with tenors of up to three years at the repo rate till March 31, 2022, to boost the provision of immediate
car repair services, rent-a-car service providers, event/conference organisers, spa clinics, and beauty parlours or saloons.The banks will
be allowed to park their surplus liquidity up to the size of the loan book created under the scheme with the RRBI, under reverse repo window
at a rate that is 25 basis points lower than repo rate
Additionally, to support the micro, small and medium enterprises (MSMEs), particularly smaller MSMEs and other businesses including those in
SIDBI for on-lending or refinancing through novel models and structures.''On-tap liquidity window of Rs
15,000 crore has been announced for banks to provide liquidity relief to the contact intensive sectors that continue to bear the brunt of
of Rs 50,000 crore that was set aside for government financial institutions in the April policy.While the banks' appetite to take additional
exposure to the stressed sectors is yet to be seen, RBI has attempted to create an incentive structure for directing lending to them
In order to provide further relief to the businesses hit by Covid 2.0, the newly announced restructuring window has been extended for all
