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Home News India

Special Liquidity Facility to SIDBI

by Janam Web Desk
Jun 5, 2021, 04:03 pm IST
in India

To nurture the embryonic growth impulses of the economy, the Reserve Bank of India has extended fresh support of ₹50,000 crore on April 7, 2021 to All India Financial Institutions (AIFIs) for new lending in 2021-22.

This included a special liquidity facility (SLF) of ₹25,000 crore to National Bank for Agriculture and Rural Development (NABARD) to support agriculture and allied activities, the rural non-farm sector and non-banking financial companies – micro finance institutions (NBFC-MFIs), an SLF of ₹10,000 crore to the National Housing Bank (NHB) to support the housing sector and ₹15,000 crore to the Small Industries Development Bank of India (SIDBI) to meet the funding requirements of micro, small and medium enterprises (MSMEs).

In order to meet MSMEs’ short- and medium-term credit needs to kick start the investment cycle with additional focus on smaller MSMEs and businesses including those in credit deficient and aspirational districts, it has been decided to provide a further special liquidity facility of ₹16,000 crore to SIDBI.

The facility would be extended for on-lending / refinancing through novel models and structures including double intermediation, pooled bond / loan issuances, etc. The facility will be available at the prevailing policy repo rate for a period of up to one year. The Reserve Bank may consider further extension of the facility depending on its usage.

Tags: MAINFEATUREDMSMEsReserve Bank of IndiaSIDBInew lendingAll India Financial Institutions
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