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RBI to Banks: Lend to healthcare space within 30 days of availing funds


RBI to Banks: Lend to healthcare space within 30 days of availing funds
May 07, 2021
The scheme will remain operational from May 7 this year till March 31, 2022
The Reserve Bank of India (RBI) on Friday said Banks should lend to stakeholders in the Covid-related healthcare infrastructure and services within 30 days from the date of availing funds from it under the ₹50,000 crore“On-Tap Term Liquidity Facility to Ease Access to Emergency Health Services scheme”.
As per the scheme, there is no tenor restriction regarding lending by Banks. However, they will have to ensure that the amount borrowed from RBI should be backed by lending to the specified segments until the scheme’s maturity. ....

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'RBI in battle mode': Full text of Shaktikanta Das's speech on May 5


The Reserve Bank of India (RBI) will give banks Rs 50,000 crore to enable them to lend further for healthcare needs in the Covid-19 crisis, said governor Shaktikanta Das on Wednesday.
“India has mounted a valiant defence against Covid-19. The RBI will continue to monitor the emerging situation and deploy all instruments at its command, said Das at an unscheduled briefing where he listed measures the central bank will take to support the economy during a second wave of infections.
“On-tap liquidity of Rs 50,000 crore at repo rate is being opened till March 31, 2022. Under the scheme banks can support entities including vaccine manufacturers, medical facilities, hospitals and also patients,” said Das. ....

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