Reserve Financial institution of India (RBI) Governor Shaktikanta Das Wednesday introduced measures to ease the financial stress of the second wave of Covid-19. The central financial institution chief introduced a time period liquidity facility of Rs 50,000 crore for entry to emergency well being safety.
Das mentioned that to ramp up the Covid associated healthcare infrastructure within the nation, an on-tap particular liquidity facility of Rs 50,000 crore can be made out there to the banks on the repo charge with as much as 3-year tenor until March 31, 2022.
He mentioned that India had flattened the COVID-19 an infection curve in March, nonetheless, new mutants of the virus have emerged. He mentioned that wide-ranging and swift actions are wanted towards the unfold of the second wave of Covid.
The governor mentioned that the RBI will intently monitor the rising developments within the financial system.
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