NBFCs to get funds under on tap TLTRO scheme for incremental lending: RBI

In October last year, the RBI had announced on tap targeted long term repo operations (TLTRO) scheme for banks

Staff Writer
First Published5 Feb 2021
**EDS: SCREENSHOT FROM OFFICIAL YOUTUBE CHANNEL OF RBI** Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das announces the policy decision of the Monetary Policy Committee (MPC), via live streaming, in Mumbai, Friday, Feb. 5, 2021. Reserve Bank of India (RBI) on Friday decided to leave benchmark interest rate unchanged at 4 per cent. (PTI Photo)(PTI02_05_2021_000039A)
**EDS: SCREENSHOT FROM OFFICIAL YOUTUBE CHANNEL OF RBI** Mumbai: Reserve Bank of India (RBI) Governor Shaktikanta Das announces the policy decision of the Monetary Policy Committee (MPC), via live streaming, in Mumbai, Friday, Feb. 5, 2021. Reserve Bank of India (RBI) on Friday decided to leave benchmark interest rate unchanged at 4 per cent. (PTI Photo)(PTI02_05_2021_000039A)(PTI)

The Reserve Bank of India (RBI) on Friday proposed to provide funds to non-banking finance companies (NBFCs) from banks under on tap TLTRO scheme for lending to some stressed sectors.

In October last year, the RBI had announced on tap targeted long term repo operations (TLTRO) scheme for banks. It had said to conduct on tap TLTRO with tenors of up to three years for a total amount of up to one lakh crore at a floating rate linked to the policy repo rate. The scheme is available till March 31, 2021.

"NBFCs are well recognised conduits in reaching out to the last mile in various sectors, it is now proposed to provide funds from banks under the TLTRO on Tap scheme to NBFCs for incremental lending to the specified stressed sectors,” RBI Governor Shaktikanta Das said during the monetary policy announcement.

The central bank kept the repo rate unchanged at 4 per cent and continued with the accommodative stance to support growth.

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