RBI extends on-tap liquidity facilities for health and contact-intensive sectors

New Delhi: With third wave of pandemic posing uncertainties, the Reserve Bank of India (RBI) on Thursday extended the on-tap liquidity facilities for emergency health services and contact-intensive sectors to June, 2022. “On account of the continued uncertainties brought on by the third wave, the two schemes are being extended from March 31, 2022 to June 30, 2022,” RBI Governor Shaktikanta Das said while announcing the bi-monthly monetary policy today. On-tap liquidity facilities of Rs 50,000 crore and Rs 15,000 crore for emergency health services and contact-intensive sectors, respectively, were announced in May and June 2021 during the second wave of the pandemic. Banks were given certain incentives for lending under the two schemes. In another decision aimed at facilitating the delivery of various government schemes to the beneficiaries more efficiently, the RBI proposed to increase the cap of e-RUPI (prepaid digital vouchers using UPI) vouchers issued by the Central government and State governments from Rs 10,000 to Rs 100,000 per voucher and permit such e-RUPI vouchers to be used more than once (until the amount of the voucher is completely redeemed). “This will further facilitate the delivery of various government schemes to the beneficiaries more efficiently,” RBI Governor said. UNI NK

 

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