Jun 16, 2020 (LBO) – Central Bank has decided to provide funding to Licensed Commercial Banks (LCBs) at the concessionary rate of 1.00 percent against the pledge of a broad spectrum of collateral, on the condition that LCBs, in turn, will on-lend to domestic businesses at 4.
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00 percent.
According to the Central Bank, this is in addition to the already disbursed Rs.
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27.5 billion under the refinance scheme introduced on 27 March 2020.
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This new scheme along with the existing refinance Scheme will provide Rs.
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150 billion in total to the businesses affected by the COVID-19 pandemic.