COMPREHENSIVE TARGETED POLICY RESPONSE
RBI has announced a Term Liquidity Facility of ₹50,000 crore for a period upto three years, at the repo rate in order to ease access to credit for providers of emergency health services.
Under this scheme banks will provide fresh lending support to vaccine manufacturers, importers/suppliers of vaccines and priority medical devices, hospitals/dispensaries, pathology labs, manufacturers and suppliers of oxygen and ventilators, and logistics firms.
These loans will be categorised under priority sector till repayment or maturity, whichever is earlier.
Resolution Framework 2.0
Microfinance institutions have requested the Reserve bank of India to provide forbearance for borrowers who are unable to pay the installments, with some flexibility, as they are hardly hit by the pandemic caused by COVID-19
Thus, RBI has launched this framework for COVID-related stressed assets of individuals, small businesses and MSME.
Borrowers with aggregate exposure of up to ₹25 crore, who had not availed restructuring under any of the earlier restructuring frameworks.