FPJ Edit: The Centre must act quickly, with targeted measures to revive jobs and growth; the RBI cannot do it on its own freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
RBI policy on expected linesWith reference to ‘RBI keeps rates unchanged to support growth’ (June 4), such a policy stance of not tinkering with the extant repo and reverse repo rates was expected fro
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Under the scheme, banks can provide fresh lending support to hotels and restaurants
In a bid to support revival of sectors hit most by the COVID-19 pandemic, Reserve Bank of India (RBI) on Friday decided to open a separate liquidity window of Rs 15,000 crore for certain contact-intensive sectors like hotels and restaurants, tourism and aviation ancillary services.
This is in addition to 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 provision of immediate liquidity for ramping up COVID-related healthcare infrastructure and services in the country. This was announced on May 5.
Revised ECLGS will help hotels, aviation sector, tour operators: Crisil
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Last Updated: Jun 03, 2021, 08:54 AM IST
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It will also support build-up of healthcare infrastructure, mainly oxygen availability, in tier-2 and beyond cities and the hinterland, the report by leading credit ratings agency Crisil said.
Agencies
The revised scheme will also benefit MSME borrowers that availed of the ECLGS 1.0 scheme, provided they are eligible under the Reserve Bank of India s restructuring 2.0 framework.
Businesses like hotels, civil aviation and tour operators, which are the hardest hit by the second wave of COVID-19, will get help through the expanded Emergency Credit Line Guarantee Scheme (ECLGS), a report said on Wednesday.