RBI announces Rs 50,000 crore priority lending by banks for hospitals, oxygen suppliers, vaccine importers, Covid drugs by March 31 next year

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RBI announces Rs 50,000 crore priority lending by banks for hospitals, oxygen suppliers, vaccine importers, Covid drugs by March 31 next year

Mumbai, May 5

*RBI Governor says situation has reversed from being on foothills of strong economic recovery to facing a fresh crisis.

*RBI to continue to monitor situation from resurgence of Covid cases; deploy all resources: RBI Governor in unscheduled announcement.

*We have to marshal our resources for fighting the virus with vigour, says RBI Governor.

*RBI Governor says normal monsoon forecast should help contain food price inflation.

*RBI Guv announces Rs 50,000 crore priority lending by banks for hospitals, oxygen suppliers, vaccine importers, Covid drugs by March 31, 2022. 

*RBI provides 2nd window to individual, small borrowers having up to Rs 25 crore loans for restructuring loans if not availed earlier: Governor.

*RBI announces rationalisation of KYC compliance norms, provides for video-based KYC for certain categories: Governor Das. PTI 

  

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