Online loans by banks should generally not exceed a one year term or 200,000 yuan per household. Banks must ensure loan proceeds are not used for property or risky investments.
July 23, 2020With the extension, the government is expanding the allowed purpose of the loans, increasing the maximum loan size and duration, and allowing secured lending and repayment holidays.
July 21, 2020The CBSL will provide credit guarantees ranging from 80% for smaller loans to 50% for larger loans issued to businesses affected by Covid-19.
July 2, 2020The CBSL has cut the statutory reserve ratio by 200 basis points, releasing $617mn in liquidity in the banking system. The size of its re-finance facility has also been tripled.
June 17, 2020The tripling of the limit was proposed to the Cabinet following complaints from various parties that they had not received relief from their banks.
June 8, 2020Under the pilot, SSE-listed companies can issue bonds with durations under one year to professional investors, provided the proceeds are not used to meet long-term funding needs.
May 26, 2020The RBI has also increased the large exposures cap for banks from 25% to 30% and granted FPIs three more months to comply with requirements under the voluntary retention route.
May 25, 2020Fintechs can apply for a one-time grant to cover daily working capital expenses, or for funding to cover proofs-of-concept developed with financial institutions on APIX.
May 14, 2020Loans granted to businesses by participating FIs under the facility will be limited to two months working capital, with 2 years repayment terms and a 4% p.a. interest rate.
April 21, 2020"Banks and finance companies will be able to make more loans to SMEs and at lower cost - in fact, we expect them to do so," said MAS Managing Director Ravi Menon.
April 21, 2020