Covid vaccine makers, Rs 50,000 crore cheap loan arrangement for hospitals: RBI

- This loan will be at repo rate i.e. very cheap interest rate, repo rate is only 4%

New delhi date. Wednesday, May 5, 2021

The second wave of Corona virus is spreading in the country. Many states have lockdown or lockdown-like conditions. In view of this situation, Reserve Bank of India (RBI) Governor Shaktikant Das has made a very important statement. He said the second wave of Corona is detrimental to the economy and the Reserve Bank is keeping a close eye on the whole situation.

Shaktikant Das has announced a cheap loan of Rs 50,000 crore for Kovid-linked infrastructure. He said that India was moving towards strong reforms. GDP growth was positive but the situation has worsened in the last few weeks since the second wave. The Reserve Bank is constantly monitoring the situation.

Shaktikant Das said the healthcare infrastructure associated with Kovid would get a cash arrangement of Rs 50,000 crore. Under this, the bank will provide loans to vaccine manufacturers, importers, hospitals, pathology labs etc. This facility will be operational till March 31, 2022. This loan will be at repo rate i.e. at a very cheap interest rate. Notably, the repo rate is only 4 percent.