The Presidents/CEOs,
All Banks/DFIs
Dear Sir /Madam,
Refinance Facility for Combating COVID -19 (RFCC)/ Islamic
Refinance Facility for Combating COVID 19 (IRFCC)
1. Please refer to IH&SMEFD Circular No. 03 and 04 of 2020 read with IH&SMEFD Circular Letter No. 08 and 16 of 2020.
2. In this regard, it is advised that the applications approved by Participating Financial Institutions uptill September 30, 2020 will be eligible for refinance under the scheme. Hence, LCs established under these approved applications will be eligible for refinance even if these LCs are established after September 30, 2020. Details of all these approved cases should be reported in weekly report of RFCC/IRFCC by 1st October, 2020.
3. Further, in order to meet financing needs for setting up new hospitals allowed under para 4 of IH&SMEFD Circular Letter No. 16 of July 2020, it has been decided to enhance loan size from Rs 500 million to Rs 1 billion per hospital. The scheme for setting up of new hospitals will remain valid uptill June 30, 2021, as mentioned in Circular Letter No. 16 of 2020.
4. All other terms and conditions of the scheme shall remain unchanged.