Earlier this month, the governor had announced a slew of measures, including term liquidity facility of Rs 50,000 crore to ease access to emergency health services.
Banks desirous of deploying their own resources without availing funds from the RBI under the scheme for lending to the specified segments mentioned above will also be eligible for the incentives.
Borrowers that are individuals and micro, small and medium enterprises (MSMEs) having an aggregate exposure of up to Rs 25 crore would be considered for the new scheme.
In the week ended April 16, 2021, the increase in reserves was mainly due to a rise in foreign currency assets (FCAs), a major component of the overall reserves
The RBI's decision to increase the balance limit is an endorsement of the role Payments Banks have in furthering financial and digital inclusion in India.
Reserve Bank of India on Wednesday expectedly left interest rates unchanged and maintained an accommodative stance as the economy faces a renewed threat.
The financial year 2020-21 has been a roller-coaster ride for the rupee due to Covid-19. The pandemic-induced massive sell-off in the equity market led the rupee breach record low of 76.90.
National Federation of State Cooperative Banks Limited (NAFSCOB) Chairman Konduru Ravinder Rao has stressed the need to safeguard the cooperative principles and spirit and also the farming sector.