EMI: RBI once again announces moratorium to individuals, small borrowers, See Details inside-
EMI: RBI once again announces moratorium to individuals, small borrowers, See Details inside-
Share:

RBI on Wednesday allowed certain individual and small borrowers more time to repay debt and allowed banks to give priority loans to vaccine makers, hospitals and Covid-related health infrastructure as it announced support measures to cushion the pandemic's blow on the economy.

The moratorium of up to two years will be available to individuals and small and medium enterprises that did not restructure their loans in 2020 and were classified as standard accounts till March 2021, RBI Governor Shaktikanta Das in an unscheduled address. This facility will be available to borrowers with a total exposure of Rs 25 crore.

This facility will be available to borrowers with a total exposure of Rs 25 crore. RBI will give Rs 50,000 crore of liquidity support to banks for providing fresh lending "to a wide range of entities including vaccine manufacturers; importers/suppliers of vaccines and priority medical devices; hospitals/dispensaries; pathology labs; manufactures and suppliers of oxygen and ventilators; importers of vaccines and Covid related drugs; logistics firms and also patients for treatment," he said.

These loans of up to 3 years tenor will be obtainable at repo rate and will be available till March 31, 2022. He also announced a calendar for bond-buying

 

RBI allows re-opening of one-time restructuring individuals and MSMEs till Sept 30

Second threat of Covid-19 will dampen India Inc's recovery: ICRA Report

FM calls for coordinated and inclusive global strategy to avoid long-term debilitating impact of Covid

Join NewsTrack Whatsapp group
Related News