RBI Monetary Policy: Under the scheme, banks can provide fresh lending support to ‘contact-intensive’ sectors.
RBI Governor Shaktikanta Das
RBI governor Shaktikanta Das on June 4 announced additional measures to help ailing businesses. RBI announced an on tap liquidity window for contact intensive sectors.
“In order to mitigate the adverse impact of the second COVID wave on contact intensive sectors, a separate liquidity window of Rs 15,000 crore is being opened till March 31, 2022, with tenors of up to 3 years at the repo rate,” Das said.
Catch LIVE updates of RBI MPC monetary policy announcement here
Under the scheme, banks can provide fresh lending support to hotels restaurants tourism, travel operators, adventure and heritage facilities, aviation ancillary services (ground handling and supply chains) and other services that include private bus operators, car repair services, rent a car services providers, event/conference organisers, spa clinics and beauty parlours and saloons.
The RBI also kept the key lending rate unchanged at 4 percent and the reverse repo rate or the central bank’s borrowing rate at 3.35 percent.
(This is a developing story. Please check back for more details)