Reserve Bank of India (RBI) Friday on Friday (October 8) announced the extension of on-tap Special Long-Term Repo Operations (SLTRO) for small finance banks (SFBs) till December 31, 2021.
This facility will now be available on-tap to ensure extended support to these entities.
“Recognising the persisting uneven impact of the pandemic on small business units, micro and small industries, and other unorganised sector entities, it has been decided to extend this facility till December 31, 2021,” RBI said on Friday.
A three-year SLTRO facility of Rs 10,000 crore at the repo rate was made available to SFBs in May 2021 to be deployed for fresh lending of up to Rs 10 lakh per borrower.
This facility was made available till October 31, 2021.
(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)