The Highlight Of RBI Governor’s Speech: Current Affairs Special Series

Team Adda247 and BankersAdda are here with a Current Affairs Special Series for SBI and IBPS interview 2021.  In this series, candidates will be introduced to current affairs topics daily, which will not only improve their general awareness but also will ensure that the candidates do not lack if any current affairs topic is asked in the interview. Today’s Current Affairs topic is The Highlight Of RBI Governor’s Speech.

Highlight of RBI Governor’s speech

RBI Governor Shaktikanta Das has just given an unscheduled speech and announced new ranges of measures to counter the pandemic.

Announcements by Governor:

• On-Tap liquidity facility is given for health care services of Rs.50, 000 crore. Now, banks will be permitted to provide fresh lending support to vaccine makers, manufacturers, logistic firms, etc. This facility would be available till March 31, 2022.
• A targeting long-term repo operation of Rs.10, 000 crore will be considered for small finance banks in which the upper limit per borrower is Rs.10 lakh.
• RBI will allow states for an overdraft facility for a maximum of 50 days which was 36 days earlier. This facility relates to funds under the Ways and Means Advances. 
• RBI opens the window of a one-time restructuring plan till September 30, 2021. MSME and Individual borrowers who having exposures up to Rs.25 crore can avail of this facility before 30th September 2021.
• RBI has extended the moratorium period under restructuring 1.0 up to 2 years.
• Banks are allowed to use counter-cyclical provisions for the purpose of bad loan provisioning. 
• Rationalization of KYC compliance.