 "With an aim to check the spread of coronavirus both the central as well as the state governments have taken a slew of measures, including enforcing social distancing among the public")
The Reserve Bank of India (RBI) on Tuesday relaxed rules for states to avail overdraft facilities until September 30, helping cashflow as India enters the the third week of a 21-day lockdown to prevent the spread of the coronavirus.
In a circular, the central bank said it has permitted "greater space" to state governments/ Union Territories for availing overdraft facilities and has also increased the number of days for which a state can be in overdraft.
RBI permits greater space to State Governments/ Union Territories for availing overdraft facilitieshttps://t.co/IiYCNhwOIX
— ReserveBankOfIndia (@RBI) April
