NBFCs to get funds under on tap TLTRO

MUMBAI: The RBI has proposed to provide funds to non-banking finance companies (NBFCs) from banks under the ' on tap' TLTRO scheme for incremental lending to some stressed sectors. It had said the on tap TLTRO will be conducted with tenors of up to three years for a total amount of up to Rs 1 lakh crore at a floating rate linked to the repo rate. The scheme is available till March 31, 2021.

"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.