The Reserve Bank of India Governor Shaktikanta Das on Wednesday unleashed a slew of measures to support growth that has been hit by the second wave of COVID infection.
   Below are the new measures introduced by the governor to support growth impulses especially at the grass root level:
RBI to have second purchase of government securities of Rs 35,000 crore under G-SAP 1.0 conducted on May 20
Announced on tap liquidity window of Rs 50,000 crore with tenure of up to 3 years at repo rate being opened till March 31, 2022. Under the scheme banks can support entities including vaccine manufacturers, medical facilities, hospitals and also patients. Such lending will get priority sector classification till repayment or maturity.
RBI Re-Opens One-Time Restructuring till Sep 30, 2021 for individuals, MSMEs borrowers. These borrowers should have been standard as on Mar 31 
Under restructuring 1.0, the period of moratorium can be extended upto a total of 2 years. Banks to create a Covid loan book under the scheme. Such banks can park liquidity equal to Covid loan book at 40 basis points above the reverse repo rate.
Targeted long-term repo operation for small finance banks of up to Rs 10,000 crore. The funds can be used for lending of upto Rs 10 lakh per borrower.
Small finance banks allowed to on-lend to smaller microfinance institutions of asset size up to Rs 500 crore
RBI announces rationalisation of KYC compliance norms, provides for video-based KYC for certain categories
RBI relaxes rules for availing overdraft facility for state government up to Sept 30. States to remain in overdraft for a maximum of 50 days compared to 36 days earlier. The number of consecutive overdraft days have been increased from 14 days to 21 days.
Key Comments:
Outlook is highly uncertain; High frequency indicators are showing mixed trends
Do not expect any broad deviations from projections given in RBI's April MPC,
Good monsoon expectation to keep rural demand strong, which would soothe impact on inflation pressures.
Aggregate supply conditions underpiulture sector 
The devastating speed with which the virus affects has to be matched by swift and wide-ranging actions that are sequenced, calibrated and well-timed so as to reach out to various sections including the most vulnerable.
Team Eforex india