09 MAY,2021 | MEDC
The second wave of Covid has prompted RBI to come up with a fresh set of measures to support different sectors of the economy. The economic impact of this wave will depend, inter alia, on the quality of the medical response to it. RBI’s relief package consists of an on-tap liquidity window worth Rs. 50,000 crore. Under this scheme, banks will be able to provide loans to businesses engaged in the area of manufacturing, importing or supplying vaccines and medical devices. RBI will also conduct special three-year long-term repo operations worth Rs. 10,000 crore at the repo rate for small finance banks. RBI’s move to avoid the moratorium route is also a wise one. In general, RBI has done well to focus on the smaller players who face the brunt of the Covid-related economic disruption. Poverty promotes rapid social vulnerability, and it is the smaller enterprises who most need institutional support in these abnormal times.
*Photo Credit: Google
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Interactive Meeting with Mr. Jaykumar Rawal Hon'ble Minister for Tourism & Employment Guarantee Scheme Govt. of Maharashtra