India

COVID Fight: RBI Announces Rs 50K Crore Liquidity Support For Healthcare Facilities

New Delhi: The Reserve Bank of India (RBI) will provide a term-liquidity facility of Rs 50,000 crore to ease access of funds for emergency medical services to tide over the COVID-19 pandemic, RBI Governor Shaktikanta Das said in an unscheduled address on Wednesday.

The liquidity support comes at a time when India has emerged as the coronavirus hotspot and surging cases during the second wave have overwhelmed the healthcare system.

Under the liquidity scheme, banks can support entities including vaccine manufacturers, medical facilities, hospitals and patients. The funds will be provided for tenure of up to 3 years and this lending will get priority sector classification till repayment or maturity.

Banks can create a special loan book and park liquidity equal to their Covid loans at 40 basis points above the reverse repo rate, Das said.

Also Read: COVID Crisis: RBI Relaxes Deadline For Bank KYC Update

OB Bureau

Recent Posts

Cheating Case: Delhi HC Denies Ex-IAS Trainee Puja Khedkar Pre-Arrest Bail

New Delhi: The Delhi High Court on Monday dismissed the anticipatory bail plea of former IAS…

21 minutes ago

LOPAR To Trigger Heavy Rain In Odisha Again; 2-4°C Dip In Night Temp Predicted

Bhubaneswar: After untimely rains for two consecutive days last week, Odisha is likely to experience…

34 minutes ago

PV Sindhu Ties The Knot In Udaipur, Check Viral First Pic

Hyderabad: PV Sindhu and Venkata Datta Sai are man and wife now. India’s ace shuttler and…

47 minutes ago

Rs 220 Cr Cocaine Seizure In Odisha: Cargo Ship Crew To Return To Vietnam After Year-Long Detention

Paradip: Crew members of a cargo ship, which has been berthed at Odisha’s Paradip port…

1 hour ago

After Two-Day Closure, Odisha’s Similipal National Park Reopens For Tourists

Bhubaneswar: After a two-day closure due to heavy rainfall, Similipal National Park located in Odisha’s…

2 hours ago

Bhubaneswar’s SAI International Residential School Celebrates 7th Founder’s Day In Style

Bhubaneswar: The Annual Founder’s Day of SAI International Residential School (SIRS) was celebrated in style,…

2 hours ago

This website uses cookies.