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RBI’s stitch-in-time act is spot on × The ₹50,000 crore to banks for creating a Covid loan book and other measures are timely. But more reforms may be needed Himadri Bhattacharya It is only but very rarely that a central bank announces emergency liquidity and other measures whose ‘immediate objective is to preserve human life and restore livelihoods.’ That’s what the RBI did and announced in an unscheduled press conference on May 5. The success or otherwise of these measures as also those introduced last year, with all their ramifications, will be known in the years to come. And, ...

Synopsis Manguirish Pai Raiker said many entrepreneurs who used to run small and micro enterprises have lost their lives, leaving the future of these units in jeopardy. Shaktikanta Das announced several policy steps to offset the economic impact of the second Covid-19 wave on MSMEs and small businesses. (This story originally appeared in on May 08, 2021)PANAJI: The initiatives taken by the Centre and the Reserve Bank of India (RBI) to support and promote the MSME sector are a step in the right direction. However, the government must also ensure that bureaucratic hurdles are removed," chair...

The stack of measures that the Reserve Bank of India announced on Wednesday to tackle a resurgent Covid-induced crisis has served to only whet the banking industry’s appetite for more. On Wednesday, the central bank had announced a series of measures, including a term liquidity facility of Rs 50,000 crore to boost funding towards healthcare infrastructure and services and a one-time restructuring mechanism for borrowers such as individuals, small business and MSMEs who have an aggregate exposure of Rs 25 crore. Experts feel that though it may alleviate some of the imminent stress, more meas...

PHD Chamber For Extension OF ECLGS To March 2022, Amount To Rs 6 Lakh May 07, 2021, 13:51 IST New Delhi: PHD Chamber of Commerce and Industry has recommended that the government also extend the Emergency Credit Line Guarantee Scheme (ECLGS) scheme until March 31st, 2022, while praising the RBI's initiatives for Micro, Small, and Medium Enterprises (MSMEs) impacted by COVID. In a statement on Wednesday (May 5th), Sanjay Aggarwal, President, PHD Chamber, said, ''Extend ECLGS scheme to 31st March 2022 with an increase in the amount from Rs 3 lakh crore to Rs 6 lakh Crore along with an ...

Loan recast under Resolution Framework 2.0 can be invoked up to September 30, 2021