RBI Governor LIVE: Shaktikanta Das rolls out stimulus measures amid 2nd Covid-19 wave; liquidity, credit, more

shaktikanta das, RBI, RBI meet(File image)

RBI Governor LIVE: RBI Governor Shaktikanta Das on Wednesday unveiled liquidity support measures amid rising Covid-19 cases in India. RBI Governor Shaktikanta Das said that the 2nd wave of COVID-19 in India has drastically altered the economic situation. Das added that RBI will continue to monitor emerging situation use all resources. India had flattened the inflation curve but the situation altered. He also added that the quarantine facility of the RBI continues to operate with more than 200 officers working away from their homes. He announced that the second purchase of G-SEC for Rs 35,000 crore under G-SAP 1.0 will be conducted on May 20, 2021. Among liquidity measures, he announced on-tap liquidity window of Rs 50,000 crore with tenure of up to 3 years at repo rate being opened till March 31, 2022. RBI also announced targeted long-term repo operation for small finance banks (SFBs) of up to Rs 10,000 crore. This will be used for lending of up to Rs 10 lakh per borrower. Das concluded his speech saying that it is during the darkest moments that we must focus on the light. “We have lessons to draw from our experience of last year when as a nation we came together and overcame the once in a generation challenge imposed by the first wave of the pandemic,” Das said.


Source link

Leave a Reply

Your email address will not be published. Required fields are marked *