RBI Governor Shaktikanta Das-led monetary policy committee retained the GDP forecast of the current financial year 2021-22 at 9.5 per cent, projecting a growth of 7.9 per cent in the July-September quarter
As part of the scheme, banks can provide fresh lending support to contact-intensive sectors
The Reserve Bank of India (RBI) in its bi-monthly Monetary Policy Committee (MPC) meeting on Friday, June 4, opened a separate liquidity window of Rs 15,000 crore till March 31 next year to curtail the adverse impact of the second wave of the COVID-19 pandemic on certain contact-intensive sectors. RBI Governor Shaktikanta Das, while addressing the statement, said that the facility will have tenors of up to three years at a repo rate of four per cent. (
This is in addition to the 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 the provision of immediate liquidity for ramping up COVID-related healthcare infrastructure and services, which was announced on May 5.
The RBI on Friday held the repo rate, its key lending rate, at four per centand kept the reverse repo rate, the borrowing rate, unchanged at 3.35 per cent.