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RBI gave relief to the economy in the Corona era

RBI gave relief to the economy in the Corona era

In the second wave of Covid-19, Governor Shaktikanta Das of Reserve Bank of India addressed the media on Wednesday and made several announcements aimed at bringing relief to the economy. He said that the second wave of Corona is being seen in the country. In such a situation, the country will have to raise its resources anew.

The RBI has decided to provide a term liquid facility of Rs 50,000 crore to increase the availability of funds for medical services.
Banks can lend more to the medical services sectors by 31 March 2022.

The RBI has prepared Resolution Framework 2.0 to reduce the pressure on the most affected small borrowers in this situation. He informed that provision of loans and incentives will be made soon in priority sectors. Apart from this, there is a plan to make Kovid Bank loan.

According to a report by the Center for Monitoring Indian Economy (CMIE), about 7.5 million people have lost their jobs due to the second wave of Kovid in the country and this has brought the unemployment rate to a four-month high of 8 percent.

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