Coronavirus: RBI announces Rs 50,000 crore lending programme to boost health infrastructure : vimarsana.com

Coronavirus: RBI announces Rs 50,000 crore lending programme to boost health infrastructure


RBI Governor Shaktikanta Das.
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Reuters
Reserve Bank of India Governor Shaktikanta Das on Wednesday announced a Rs 50,000 crore lending programme to help ramp up the health infrastructure as India is battered by a second wave of the coronavirus pandemic.
The governor said that the RBI will inject liquidity worth Rs 50,000 crore, which will be available for banks to lend to entities like vaccine manufacturers, hospitals, other medical facilities and coronavirus patients. Under the provision, banks will maintain a “Covid loan book” and will be able to borrow money from the central bank at the existing repo rate of 4% for a term of three years. Banks will be able to avail this facility till March 31, 2022.

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