In a move to support small and medium businesses in their credit requirements, the Reserve Bank of India (RBI) has announced a special liquidity facility of Rs 16,000 crore for Small Industries Development Bank of India(SIDBI).This comes over .
RBI announces Rs16,000 crore liquidity for SIDBI
2 hours ago The photo has been used for illustrative purposes. In a move to support small and medium businesses in their credit requirements, the Reserve Bank of India (RBI) has announced a special liquidity facility of Rs16,000 crore for Small Industries Development Bank of India(SIDBI).
This comes over and above the Rs15,000 crore liquidity support announced in April.
This facility is expected support the MSMEs amid the current Covid crisis and the lockdowns across states. Dh1=Rs19.
“In order to meet MSMEs’ short- and medium-term credit needs to kick start the investment cycle with additional focus on smaller MSMEs and businesses including those in credit deficient and aspirational districts, it has been decided to provide a further special liquidity facility of Rs16,000 crore to SIDBI,” said Statement on Developmental and Regulatory Policies.
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Under the scheme, banks can provide fresh lending support to hotels and restaurants
In a bid to support revival of sectors hit most by the COVID-19 pandemic, Reserve Bank of India (RBI) on Friday decided to open a separate liquidity window of Rs 15,000 crore for certain contact-intensive sectors like hotels and restaurants, tourism and aviation ancillary services.
This is in addition to on-tap liquidity window of Rs 50,000 crore with tenors of up to three years at the repo rate till March 31, 2022 to boost provision of immediate liquidity for ramping up COVID-related healthcare infrastructure and services in the country. This was announced on May 5.
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