Bank of India (SIDBI) for on-lending/refinancing using novel models and structures.
12 June 2021 Current Affairs:The RBI made several announcements while unveiling its Bimonthly Monetary Policy.
Highlights:
♦ Policy Rate Unchanged: The policy rate remained unchanged at 4% for the sixth time in a row, while the reverse repo rate remained at 3.35 percent.
♦ Growth Prospects downsized: Due to the uncertainties caused by the second wave of COVID-19, India's GDP growth rate has been reduced to 9.5 percent.
♦ Liquidity Boost: Banks will open a Rs. 15,000-crore liquidity window for contact-intensive industries such as hotel and tourism. In addition, a new Rs 16000-crore liquidity line has been provided to the Small Industries Development ♦ Bank of India (SIDBI) for on-lending/refinancing using novel models and structures.
♦ MSMEs' upper limit has been revised: Borrowers' maximum limit has been raised from Rs. 25 crore to Rs.50 crore for MSMEs, small businesses, and individual business loans
Highlights:
♦ Policy Rate Unchanged: The policy rate remained unchanged at 4% for the sixth time in a row, while the reverse repo rate remained at 3.35 percent.
♦ Growth Prospects downsized: Due to the uncertainties caused by the second wave of COVID-19, India's GDP growth rate has been reduced to 9.5 percent.
♦ Liquidity Boost: Banks will open a Rs. 15,000-crore liquidity window for contact-intensive industries such as hotel and tourism. In addition, a new Rs 16000-crore liquidity line has been provided to the Small Industries Development ♦ Bank of India (SIDBI) for on-lending/refinancing using novel models and structures.
♦ MSMEs' upper limit has been revised: Borrowers' maximum limit has been raised from Rs. 25 crore to Rs.50 crore for MSMEs, small businesses, and individual business loans