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CBN debits banks N8 3 trillion as CRR in 2020

  Nairametrics confirmed this data from the financial statements of all commercial banks listed on the Nigerian Stock Exchange and excludes banks not listed, suggesting the amount could be closer to N9 trillion. Nigeria’s largest banks “FUGAZ” suffered the most debits with about N5.9 trillion in debits in 2020, over 70% of the total debits. Except for Unity Bank, all the banks have released their full-year earnings for 2020.    Source: Nairalytics Research. Private Sector Lending rises The CRR is an abbreviation for Cash Reserve Ratio and is a monetary policy tool used by the Central Bank of Nigeria to control money supply in the economy. The central bank increased the CRR from 22.5% to 27.5% in January 2020 a decision it explained was because they wanted banks to lend more to the private sector. 

RBI extends fresh support of ₹50,000 crore to NABARD, NHB, SIDBI

RBI extends fresh support of ₹50,000 crore to NABARD, NHB, SIDBI Updated: Updated: Regulator announces committee to strengthen ARCs Share Article Regulator announces committee to strengthen ARCs 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.

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