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RBI extends TLTRO on Tap scheme by 6 months
By IANS |
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Reserve Bank Of India. Image Source: IANS News
Mumbai, April 7 : The Reserve Bank on Wednesday decided to extend the TLTRO on Tap liquidity scheme till September 30.
The scheme provides liquidity support for revival of activity in specific sectors that have both backward and forward linkages and having multiplier effects on growth. It was announced by RBI on October 9, 2020 and was earlier available up to March 31, 2021. With a view to increasing the focus of liquidity measures on revival of activity in specific sectors that have both backward and forward linkages and having multiplier effects on growth, the RBI had announced the TLTRO on Tap Scheme on October 9, 2020 which was available up to March 31, 2021.
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The RBI on Wednesday announced various developmental and regulatory policy measures on liquidity management and support to targeted sectors, to help mitigate the impact of the pandemic and help in economic revival.
The central bank decided to extend freshsupport of ₹50,000 crore to the All India Financial Institutions for new lending in FY22. This would help support the continuedflow of credit to the economy in the aftermath of the COVID-19pandemic and to nurture the still-nascent growth impulses.
On 22 October, RBI had named five sectors like agriculture, agri-infrastructure, secured retail, micro, small and medium enterprises and drugs, pharmaceuticals and healthcare as eligible for on-tap TLTRO funds