Small Finance Banks get Separate Long Term Repo Operation

Small finance banks (SFBs) have played a key role by serving as a source for credit to individuals and small businesses in the last stretch. For the SFBs, a special three-year long-term repo operation (SLTRO) of Rs.10,000 crore at repo rate has been announced. Until October 31, 2021, this service will be available. To provide further support to small companies, micro and small firms, and other unorganized sector groups that have been impacted by the recent epidemic.

Every month, the Reserve Bank will hold an SLTRO auction. The first auction, for Rs.10,000 crore, will take place on May 17, 2021. The part of the bid that is not used will be carried on until the next auction. 

TO READ OFFICIAL NOTIFICATION CLICK HERE.

The  Central Board of Indirect Taxes and Customs specifies the rate of exchange of conversion of any of the foreign currencies

The Central Board of Indirect Taxes and Customs, in the exercise of the powers granted by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of Notification No.43/2021-Customs(N.T.), dated 15th April 2021, except as to items done or omitted to be done before such supersession, declares that the rate of exchange of any of the foreign currencies listed in column (2).

For the purposes of the said section relating to imported and export products, the rate of exchange of conversion of each of the foreign currencies listed in column (2) of each of Schedule I and Schedule II annexed hereunder into Indian currency or vice versa shall, with effect from 7th May 2021, be the rate stated against it in the corresponding entry in column (3) thereof.

TO READ THE OFFICIAL NOTIFICATION CLICK HERE.

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