Bonjour, new guests from small-town India
Puneet Dhawan of Accor is brimming with ideas on ways to revive the hospitality sector
The Reserve Bank on Monday announced the second tranche of targeted long term repo operation (TLTRO) of ₹25,000 crore for a three-year tenor.
The TLTRO as an instrument was introduced last Friday along with the policy rate cut of 0.75 per cent in order to encourage financial institutions to lend more. A slew of incentives were also announced to encourage the same.
The second TLTRO will be conducted for the notified amount on April 3 for an hour starting 11 AM, the apex bank said.
The total size of the TLTRO has been fixed at ₹1 lakh crore and the RBI had announced the first TLTRO immediately on Friday.
The banks have to deploy the money in well-rated corporate bonds and have been incentivised by making it possible to recognise such investments in the held to maturity rather than mark to market, which makes a bank’s earnings exposed to market volatilities.
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