New Delhi: To counter the devastating coronavirus surge, the Reserve Bank of India on Wednesday announced Rs 50,000 crore liquidity for ramping up COVID-related healthcare infrastructure and services till 2022.
The RBI governor Shaktikanta Das said that to ramp up the Covid related healthcare infrastructure in the country, an on-tap special liquidity facility of Rs 50,000 crore will be made available to the banks at the repo rate with up to 3-year tenor till March 31, 2022.
During his address, the RBI governor also said that India had flattened the COVID-19 infection curve in March, however, new mutants of the virus have emerged. He said that wide-ranging and swift actions are needed against the spread of the second wave of Covid.
The RBI governor also announced that those borrowers up to Rs 25 crore, who have not taken restructuring earlier and were standard as of March 2021, will be considered for restructuring till September 30, 2021.
Das also said that the central bank decided to conduct the second purchase of G-sec for Rs 35,000 crore under G-SAP 1.0 on May 20, 2021.
On the rate of inflation, he said, the food and fuel inflation have pushed core inflation but added that expected normal monsoon forecast by India Meteorological Department (IMD) should help contain food price inflation.
Stating that the country needs to come together to marshal resources to contain the spread of the virus, Das further stated that RBI will continue to monitor the ongoing situation and deploy all resources to fight the virus.
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