Friday, February 3, 2023

Provision of an affordable loan of 50 thousand crore rupees for Covid Vaccine Makers, Hospitals: RBI

The second wave of Coronavirus is wreaking havoc in the country. Many states have a lockdown or lockdown situation. In view of this, Reserve Bank of India (RBI) Governor Shaktikanta Das made an important statement. He said that the second wave of Corona is harmful to the economy and the Reserve Bank is keeping a close watch on the situation. He announced to arrange for an affordable loan of 50 thousand crores for infrastructure connected to Covid. 

He said that India was moving towards strong reforms. GDP growth had become positive. But after the second wave, the condition has worsened in the last few weeks. The Reserve Bank is constantly monitoring the situation.  

50 thousand crore rupees bank loan

He said that a cash arrangement of 50 thousand crore rupees will be provided for the healthcare infrastructure connected to Covid. Under this, banks will give bank loans to vaccine manufacturers, importers, hospitals, pathology labs, etc. This facility will remain till 31 March 2022. He said that this loan will be at a repo rate i.e. very economical interest rate. Significantly, the repo rate is only 4 percent. 

To fix the cash in the system, the Reserve Bank will purchase 35 thousand crore government securities in the next fifteen days. He said that the outlook is quite uncertain. The vaccine will come in most countries in the summer. He said that the forecast of monsoon to be normal this year has been released, which will have a positive effect on inflation. Food production has also been good last year. Business people have learned how to work between physical restrictions. But there will be pressure on demand.  

ALSO CHECK: Get a tremendous discount with Firsrtcry Coupon Code and Mamaearth Coupons

The economy is under threat again due to the lockdown and corona crisis. In such a situation, this address of Reserve Bank Governor Shaktikanta Das is very important. Economic activities have come to a standstill due to the lockdown being implemented at the state level to prevent corona.  

Corona crisis no less 

Significantly, the new form of coronavirus is causing huge devastation in the country. Every day new cases of corona are coming from 3.50 lakhs in the country. In the last 24 hours, there have been 3,82,691 new cases of Corona in the country. 

 The RBI had tweeted and said, “RBI Governor will address the media at 10 am local time.” Last year, the lockdown proved to be very damaging for the economy. In the first quarter of the fiscal year of April 2020, there was a steep decline of about 24 percent in GDP. 

Economy concerns 

In its next quarter too, GDP was negative. The economy technically reached a period of recession due to the decline in GDP for two consecutive quarters.

At that time, the central government had given a package of 20 lakh crore rupees, the Reserve Bank had also made several arrangements to infuse cash into the system. To provide relief to the common people, a moratorium facility was provided on loan. 



Please enter your comment!
Please enter your name here

Most Popular


Mahindra Thar 5 Door Launch Date, Features, Expected Price

Mahindra Thar 5-Door Engine: Mahindra is soon going to bring a 5-door version of its Thar SUV. This SUV has been seen many times...

2023 Hyundai Alcazar gets RDE-compliant engines, 6 airbags as standard

Updated Hyundai Alcazar: Hyundai has updated the Alcazar SUV, it will now get 6 airbags as standard. Changes have also been made to the...

Tata sold so many cars that everyone was surprised!

Tata Motors: Talking about the three companies that sold the most cars in the year 2022, Maruti Suzuki was at number one, Hyundai at...

Weight Loss Tips for Healthy Lifestyle

Weight Loss Tips: To control our increasing weight, it is most important that we follow a healthy diet. But follow this plan for everyone....

This 21-year-old beauty forgot to wear the most important thing inside the transparent dress, fearlessly gave killer poses

Avneet Kaur Photos: 21-year-old Avneet Kaur is getting out of control. Sometimes the actress shares hot pictures wearing a bikini and sometimes she wears...

Most Popular


* indicates required