The Reserve Bank of India has decided to provide a term-liquidity facility of Rs 50,000 crore to ease access of funds for emergency medical services, the Governor Shaktikanta Das said as the second wave of coronavirus continues to devastate the country. This comes at a time when India has emerged as the coronavirus hotspot and surging cases have overwhelmed the healthcare system
Under the scheme banks can support entities including vaccine manufacturers, medical facilities, hospitals and also patients. The funds will be provided for a tenure of up to 3 years, Shaktikanta Das said.
This lending will get priority sector classification till repayment or maturity
India has already crossed the 2-crore mark in total Covid infections caseload, which is the second highest globally — just behind the United States and ahead of Brazil.
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