The second buy of G-SEC for Rs 35,000 crore below G-SAP 1.0 shall be performed on Could 20, 2021. (File picture)
RBI Governor Highlights: RBI Governor Shaktikanta Das on Wednesday unveiled liquidity assist measures amid rising Covid-19 instances in India. RBI Governor Shaktikanta Das stated that the 2nd wave of COVID-19 in India has drastically altered the financial state of affairs. He added that RBI will proceed to observe rising state of affairs, utilizing all assets. India had flattened the inflation curve however the state of affairs altered. He additionally added that the quarantine facility of the RBI continues to function with greater than 200 officers working away from their houses. He introduced that the second buy of G-SEC for Rs 35,000 crore below G-SAP 1.0 shall be performed on Could 20, 2021. Amongst liquidity measures, he introduced on-tap liquidity window of Rs 50,000 crore with tenure of as much as 3 years at repo fee being opened until March 31, 2022. RBI additionally introduced focused long-term repo operation for small finance banks (SFBs) of as much as Rs 10,000 crore. This shall be used for lending of as much as Rs 10 lakh per borrower. Das stated that it’s throughout the darkest moments that we should deal with the sunshine. “Now we have classes to attract from our expertise of final yr when as a nation we got here collectively and overcame the as soon as in a technology problem imposed by the primary wave of the pandemic,” Das stated. “Our religion ought to be like an ever-burning lamp which not solely offers us gentle, but in addition illuminates the environment,” Das concluded.