RBI opens Rs 31,000 crore liquidity tap for MSMEs
Aims to help contact-intensive sectors hit by the pandemic
RBI will open an ‘On-tap Liquidity Window’ aggregating Rs15,000 crore till March 31, 2022
Banks can tap this window to get funds for up to three years at the 4% repo rate
Banks can also park their surplus liquidity up to the size of the loan book made under this scheme
Sectors like hotels and restaurants, tourism and aviation ancillary services will benefit mostly
These are the sectors impacted badly due to the pandemic
The central bank will also extend a special liquidity facility of ₹16,000 cr to SIDBI
