September 14, 2020

Special liquidity facility of Rs 10,000 crore for NABARD, NHB has been announced by RBI

MUMBAI: On Thursday the Reserve Bank announced an additional special liquidity facility (ASLF) of Rs 10,000 crore equally split between NABARD and the NHB. This is to help small financiers and home loan companies amid Covid pandemic difficulties. This liquidity facility is for both the National Bank for Agriculture and Rural Development (Nabard) and the National Housing Bank. Furthermore it will be offered at the policy repo rate, RBI governor Shaktikanta Das said.

It can be noted that higher share of moratoriums are being availed by the retail borrowers. It further has created the need for such liquidity support to lenders to meet their repayment commitments. The RBI has announced similar moves in the past as well.

In addition to that Das said ASLF of Rs 5,000 crore will be given to the NHB to “shield the housing sector from liquidity disruptions and augment the flow of finance to the sector through housing finance companies (HFCs)”.

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