Sep 28 2021

7 key takeaways from RBI Governor Shaktikanta Das speech today

7 key takeaways from RBI Governor Shaktikanta Das speech today

RBI Governor Shaktikanta Das declared ?50,000 crore need loaning by banks for clinics, oxygen providers, antibody shippers, COVID drugs by March 31, 2022. 

Watching out for all areas of the Indian economy in the midst of second flood of Covid-19, the Reserve Bank of India (RBI) Governor Shaktikanta Das today communicated full trust in Indian strength against the dangerous pandemic. To reinforce all partners in the India's battle against Corona, the RBI Governor declared different measures to prepare public as a rule, Indian banks, enterprises and other partners. 

Here are the vital takeaways from the RBI Governor Shaktikanta Das discourse today: 

1] To ease admittance to Emergency Health Service, the RBI reported and support arrangement of prompt liquidity for inclining up COVID related medical care framework and administrations in the country, an on-tap liquidity window of ?50,000 crore with tenors of as long as three years at the repo rate is being opened till March 31, 2022. Under the plan, banks can give crisp loaning backing to a wide scope of substances including immunization fabricates; merchants/providers of antibodies and need clinical gadgets; emergency clinics/dispensaries; pathology labs; makes and providers of oxygen and ventilators; shippers of immunizations and COVID related medications; coordinations firms and furthermore patients for treatment. 

2] Normal storm gauge to help contain food value expansion as the creation is relied upon to satisfy the need in coming occasions. 

3] ?50,000 crore need loaning by banks for clinics, oxygen providers, antibody merchants, Covid drugs by March 31, 2022. 

4] Opening of the second window to singular, little borrowers having up to ?25 crore credits for rebuilding advances if not profited prior. 

5] Rationalization of KYC consistence standards empowering video-based KYC for specific classifications. 

6] Ease in rules for profiting overdraft office for state governments up to September 30, 2021. 

7] ?10,000 crore designation for little money banks under SLTRO.

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Posted by : Prashant Solapure

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