By Our Correspondent
NEW DELHI/MUMBAI: RBI Governor Shaktikanta Das on Friday announced that the Central Bank will provide a special refinance facility to NABARD, SIDBI and NHB worth Rs 50,000 crore.
RBI Governor Das said: “This will comprise Rs. 25,000 crore to NABARD for refinancing regional rural banks (RRBs), cooperative banks and micro finance institutions (MFIs); Rs. 15,000 crore to SIDBI for on-lending/refinancing; and Rs. 10,000 crore to NHB for supporting housing finance companies (HFCs)”.
The central bank mentioned that All India Financial Institutions (AIFIs) such as NABARD, SIDBI and NHB play an important role in meeting the long-term funding requirements of agriculture and the rural sector, small industries, housing finance companies, NBFCs and microfinance companies.
RBI also announced a slew of other liquidity enhancing measures to ensure that stressed sectors get access to credit.
