"rbi"

The provisions will apply to all deposit-taking HFCs, irrespective of their size, as well as non-deposit-taking HFCs with asset size of Rs 5,000 crore and above, the central bank said.

The first such auction of Rs 25,000 crore was held on April 15 and second one was on May 20 for Rs 35,000 crore.

Subbarao said instead of borrowing in the market, the government could raise a part of its borrowing requirements by issuing Covid bonds to the public.

The government had demonetised the then in circulation high value currency notes of Rs 500 and Rs 1,000 on November 8, 2016, with an aim to check black money.

The RBI had first come out with a circular on the issue in 2018, cautioning people about investing in cryptocurrencies, which do not have any sovereign character.

Nestle India was the top laggard in the Sensex pack, shedding around 2 per cent, followed by SBI, HDFC Bank, Axis Bank, ICICI Bank, Reliance Industries, HUL and Dr Reddy's.

The facility will have tenors of up to three years at repo rate (4 per cent), said RBI Governor Shaktikanta Das.

At 10:25 am, the BSE S&P Sensex was up by 94 points or 0.18 per cent at 52,327 while the Nifty 50 gained by 31 points or 0.2 per cent to 15,721.

The announcement came after a three-day meeting of its Monetary Policy Committee (MPC). The RBI has kept repo rate the central bank's lending rate unchanged at 4 per cent and reverse repo rate borrowing rate at 3.35 per cent.

Industry expects a status quo on benchmark rate on account of uncertainty over the impact of Covid second wave

Growth in loans to micro and small industries accelerated to 3.8 per cent in April this year as compared to a contraction of 2.2 per cent a year ago.

The Bank of India has sent messages to its eligible customers to submit their willingness to debt recast online.

Creating safe working zones is necessary, for it is not possible to perpetually fear and abstain from livelihood activities

The stock markets are mainly driven by money supply and foreign portfolio investor (FPI) investments, the apex bank said.

Moratorium should be extended up to March 2022 on all EMIs of term loans as well as interest on cash credit accounts.

The waiver of compound interest on all loan accounts which opted for moratorium during March-August 2020 may put stress on banks' financial health.

It also suggested to re-consider severe restrictions on capacity and eligibility requirements, limit on number of audits.

Painting a rosy picture based on April's GST collections could be a miscalculation as all indicators point to a grim picture of the economy

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.

It is up to the Centre now to complement RBI’s efforts to revive the economy with appropriate policy interventions