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RBI Provides Support of 50k Crore to NABARD, NHB, SIDBI

Financial liquidity support will be given to AIFIs through various tools

Veena Nair by Veena Nair
April 8, 2021
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RBI provides support of 50K crore to NABARD, NHB, SIDBI
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TAD NewsDesk, New Delhi:

In an attempt to mitigate the impact of the pandemic and to revive the economy, the Reserve Bank of India announced several developmental and regulatory policy measures on liquidity management and support to targeted sectors. 

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Additional liquidity support of Rs 50000 crore will be extended to all the Indian financial institutions (AIFIs) for new lending in the fiscal year 2022

RBI governor, Shaktikanta Das in its first bi-monthly monetary policy for FY22 informed that liquidity support would be provided to financial institutions such as NABARD, NHB and SIDBI. 

“In consonance with the policy objective of nurturing the still-nascent growth impulses, it has been decided to extend fresh support of Rs 50,000 crore to the AIFIs for new lending in 2021-22,” the governor said.

The distribution of the amount is as follows, National Bank for Agriculture and Rural Development (NABARD) will be provided with a special liquidity facility (SLF) of Rs 25,000 crore for a period of one year to support agriculture and allied activities and the rural non-farm sector and non-banking financial companies-microfinance institutions (NBFC-MFIs).

A special liquidity facility of Rs 10,000 crore will be extended to National Housing Bank (NHB) for one year to support the housing sector.

SIDBI will be sanctioned Rs 15,000 crore under this facility for a period of up to one year To meet the funding requirements of micro, small and medium enterprises (MSMEs), The facilities will be available at the prevailing policy repo rate. The governor assured that the RBI will support the market with adequate liquidity via its various tool kits.

Pointing out the importance of Asset Reconstruction Company (ARCs)  to deal with bad loans, RBI informed that it will be setting up a committee to undertake a comprehensive review of the working of ARCs and recommend suitable measures for enabling entities to meet the growing requirements of the financial sectors.

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Veena Nair

Veena Nair

Veena Nair is a Mass Media graduate from Sophia College for Women. She has been a reporter news portals like Newslaundry and The Hindu.

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