Reserve Bank of India Governor Shashikant Das gave a press conference at 10 am on Wednesday. The RBI governor told the press that the central bank is keeping an eye on the circumstances of Kovid. He said that the recovery in India is faster than in the world, but the second wave is more dangerous than the first wave.
RBI Governor said in the press conference that the economy had seen better recovery after the first wave. He hoped that demand would increase in villages due to good monsoon. He announced a priority loan of Rs 50,000 crore for hospitals, oxygen suppliers, vaccine importers, Kovid medicines by 31 March 2022 by banks to fight the second wave of Corona. The Reserve Bank also gave a big discount on KYC and asked to promote video KYC and non-face-to-face document verification.
Instructions to banks to make a Kovid loan book, as well as an announcement of incentives for the priority sector. The RBI gave individual, small borrowers with loans up to Rs 25 crore a second chance to restructure the loan if they did not avail of the facility in the first place. The country is currently reeling from the second wave of Corona. More than 3 lakh 82 thousand cases were reported in just one day on Tuesday, which is about 28 thousand cases more than on Monday. Let us know that the cases of Kovid-19 in India have crossed the 2 crore mark and more than 50 lakh cases of infection have been reported in just 15 days.