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RBI to provide additional special liquidity facility to NABARD, NHB

Thursday, 06 Aug 2020
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The Reserve Bank of India (RBI) will provide additional special liquidity facility of Rs 10,000 crore to the National Bank for Agriculture and Rural Development (NABARD) and the National Housing Bank (NHB). 
 
RBI has kept the repo rate, the key interest rate at which it lends to commercial banks, unchanged at four percent. The Marginal Standing Facility (MSF) rate and the bank rate remain unchanged at 4.25 percent. The reverse repo rate stands unchanged at 3.35 percent. 
 
An amount to the tune of Rs 5,000 crore will be provided to NHB to shield the housing sector from liquidity disruptions and augment the flow of finance to the sector through housing finance companies (HFCs). Another amount of Rs 5,000 crore will be provided to NABARD to ameliorate the stress being faced by smaller non-bank finance companies (NBFCs) and micro-finance institutions in obtaining access to liquidity. 
 
The facility will be for a period of one year and charged at repo rate.

 

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