Sensex snaps three sessions of losses, ends 424 points higher on RBI s Covid relief measures
Sensex jumped 424 points to close at 48,677 and Nifty surged 121 points to 14,617
BusinessToday.In | May 5, 2021 | Updated 18:27 IST
Banking, pharma and IT stocks led the rebound after RBI announced key economic measures to counter the impact of Covid 2.0 on the economy.
Benchmark indices snapped three sessions of losing streak today, led by gains in banking, pharma and IT stocks. Sensex jumped 424 points to close at 48,677 and Nifty surged 121 points to 14,617. Banking, pharma and IT stocks led the rebound after RBI announced key economic measures to counter the impact of Covid 2.0 on the economy.
RBI re-opened its one-time loan restructuring plan for individuals, small businesses, MSMEs
In an unscheduled address on Wednesday, May 5, Reserve Bank of India (RBI) Governor Shaktikanta Das announced several set of measures to tackle the economic disruptions amid the second wave of the COVID-19 pandemic in the country. The central bank will provide term-liquidity support of Rs 50,000 crore to ease the access of funds for emergency medical services. This comes at a time when the healthcare system is overburdened with surging coronavirus cases. (
The RBI also re-opened its one-time loan restructuring plan for individuals, small businesses, and micro, small and medium enterprises (MSMEs) currently affected by the state-wise lockdown restrictions. The small borrowers having exposure up to Rs 25 crore, who did not avail of the restructuring earlier and where loans were classified as standard as of March 31, 2021, will now be eligible for loan restructuring in the second round.
RBI announces moratorium on loans, fresh lending
RBI announces moratorium on loans, fresh lending
Reserve Bank of India Governor Shaktikanta Das during his addresses in Mumbai.
MUMBAI, May 5: RBI on Wednesday allowed certain individual and small borrowers more time to repay debt and allowed banks to give priority loans to vaccine makers, hospitals and COVID-related health infrastructure as it announced support measures to cushion the pandemic’s blow on the economy.
The moratorium of up to two years will be available to individuals and small and medium enterprises that did not restructure their loans in 2020 and were classified as standard accounts till March 2021, RBI Governor Shaktikanta Das in an unscheduled address.
RBI announces loan restructuring for small businesses hit by Covid Central bank opens Rs 50,000 crore on-tap window to ease access to emergency health services
RBI on Wednesday allowed certain individual and small borrowers more time to repay debt and allowed banks to give priority loans to vaccine makers, hospitals and COVID-related health infrastructure as it announced support measures to cushion the pandemic s blow on the economy.
The moratorium of up to two years will be available to individuals and small and medium enterprises that did not restructure their loans in 2020 and were classified as standard accounts till March 2021, RBI Governor Shaktikanta Das in an unscheduled address.
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