Key Take away from RBI Governor:
No new Moratorium only Restructuring norms relaxed along with new window for fresh restructuring
RBI Governor Statement 5th May ,21
- Key Take away from RBI Governor: No new Moratorium only Restructuring norms relaxed along with new window for fresh restructuring
- RBI re-opens onetime restructuring: Small borrowers up to Rs25cr exposure get a new restructuring window. Borrowers, including individuals and MSMEs, permitted one-time restructuring till September 30, 2021. For past restructured loans, moratorium can be extended. Banks also can review their working capital needs.
- Second purchase of government securities for Rs 35,000 crore under G-SAP 1.0 will be conducted on May 20.
- The RBI has announced a targeted long term repo operation for small finance banks of upto Rs 10,000 crore. The funds can be used for lending of upto Rs 10 lakh per borrower. SFBs permitted to on-lend to smaller microfinance institutions of asset size upto Rs 500 crore.
- On-tap liquidity of Rs 50,000 crore at repo rate is being opened till March 31, 2022: Under the scheme banks can support entities including vaccine manufacturers, medical facilities, hospitals and also patients. Such lending will get priority sector classification
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