FIEO welcomes RBI’s decision to extend easy credit, expanding the health infrastructure and boosting economy

NEW DELHI : Mr Sharad Kumar Saraf, President, FIEO reacting to the measures announced by the Reserve Bank of India, due to the ongoing second wave of the Covid-19 pandemic, including term liquidity facility of ?50,000 crore to ease access to emergency health services, special long-term repo operations (SLTRO) for small finance banks (SFBs), lending by small finance banks (SFBs) to MFIs for on-lending to be classified as priority sector lending, credit to MSME entrepreneurs and resolution framework 2.0 for Covid related stressed assets of individuals, small businesses and MSMEs, which will not only instill a sense of security and ease liquidity concerns but will help in boosting the confidence of businesses and entrepreneurs across the country. 

Welcoming today’s RBI’s decision, FIEO President said that extending easy credit will help in expanding the health infrastructure in the country, which is in distress due increasing Coronavirus infection. The Federation together stands with the government in all its efforts to control the surge in Covid-19 pandemic and support the economic growth of the country.