Rs 50,000 cr priority lending announcement for Covid-related services a welcome move: Sangita Reddy

RBI Governor Shaktikanta Das' announcement that banks can provide Rs 50,000 crore priority lending for ramping up Covid-related healthcare infrastructure and services in the country is a welcome move, Apollo Hospitals Group Joint Managing Director Sangita Reddy said on Wednesday.

"To boost provision of immediate liquidity for ramping up Covid-related healthcare infrastructure and services in the country, an on-tap liquidity window of Rs 50,000 crore with tenors of up to three years at the repo rate is being opened till March 31, 2022," Das said on Wednesday.

Under the scheme, banks can provide fresh lending support to a wide range of entities, including vaccine manufactures; importers/ suppliers of vaccines and priority medical devices; hospitals/ dispensaries; pathology labs; manufacturers and suppliers of oxygen and ventilators; importers of vaccines and Covid-related drugs; logistics firms and also patients for treatment.

"I commend the@RBI Governor @DasShaktikanta for taking up these timely & appropriate steps. The announcement of on-tap liquidity of Rs 50,000 cr for ramping up #CovidIndia -related #healthcare infra & services is a welcome move," Reddy said in a tweet.

The total tally of Covid cases in the country has climbed to 2,06,65,148.