It is up to the Centre now to complement RBI’s efforts to revive the economy with appropriate policy interventions
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.
Banks may deliver these loans to borrowers directly or through intermediary financial entities regulated by the RBI.
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.
However, non-deposit taking NBFCs with asset size below Rs 1,000 crore have the option to continue with their extant procedure.
Chakraborty, a 1985 batch IAS officer of Gujarat cadre, retired as Secretary of Department of Economic Affairs in April 2020
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.
In the previous week ended April 2, the reserves had dipped by $2.42 billion to $576.28 billion
Reserve Bank of India (RBI) has kept the key repo rate unchanged at 4 per cent to support growth in the current situation.
Reserve Bank of India on Wednesday expectedly left interest rates unchanged and maintained an accommodative stance as the economy faces a renewed threat.
The central bank kept the benchmark repurchase rate unchanged at 4 per cent and maintained accommodative policy stance to support growth.
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.
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