MUMBAI: Reserve Bank of India on Wednesday extended relief to individuals and small businesses who have loans up to Rs 25 crore by allowing them to seek a loan restructuring if they are affected by the second wave of the Covid-19.
Announcing a series of steps to ensure financial stability, the central bank also loosened its purse strings to fund the war against the pandemic by providing a Rs 50,000 crore liquidity window to ramp up healthcare infrastructure. This has been topped with incentives for lenders who build a Covid-19 loan book.
“This is the first part of a calibrated and comprehensive strategy against the pandemic,” RBI governor Shaktikanta Das said and made it clear that he was willing to take many more “small and big steps…
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