In a bid to provide its support to fight COVID-19 Pandemic, Governor of Reserve Bank of India Shaktikanta said that RBI will provide a term-liquidity facility of ₹ 50,000 crore to ease access of funds for emergency medical services.
Under the scheme, banks will be able to provide support to entities including vaccine manufacturers, medical facilities, hospitals and patients. The loan will be available at the RBI’s Repo Rate, i.e. 4 per cent. The tenor of the loan will be up to 3 years and on tap loan will be available till 31st March 2022.
“To boost the provision of immediate liquidity for ramping up COVID- related healthcare infrastructure and services in the country, an on-tap liquidity window of ₹50,000 crores with tenors of up to three years at the repo rate is being opened till March 31, 2022.”RBI Governor Shaktikanta Das
In his unscheduled address, the Governor also saluted the selfless contribution of health care professionals and other frontline workers in battling the Covid-19 pandemic.
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