The Reserve Bank of India has extended the On Tap Targeted Long-Term Repo Operations (TLTRO) Scheme till 31st December 2021, notified vide press release dated August 13, 2021.
The On Tap TLTRO was announced in October 2020 in order to provide liquidity support to various economic sectors and banks. LTRO lets banks borrow one to three-year funds from the central bank at the repo rate, by providing government securities with similar or higher tenure as collateral.
At first, the scheme was available up to September 30, 2021 which has now been extended till 31st December 2021.
*Tanvi Singh, Editorial Assistant has reported this brief.