RBI extends enhanced borrowing limit under MSF till 30 September

In March 2020, the Reserve Bank of India, had increased the borrowing limit of scheduled banks under the marginal standing facility (MSF) scheme from 2 percent to 3 percent of their Net Demand and Time Liabilities (NDTL) as a temporary measure to deal with cash crunch caused by coronavirus pandemic.
This relaxation was effective from March 27, 2020 and was granted till June 30, 2020.
Now, RBI has decided to extend this enhanced borrowing facility provided to the banks to meet their liquidity shortages till September 30, 2020.
Apart from this, the Central Bank has also extended the relaxation on the minimum daily maintenance of the Cash Reserve Ratio (CRR) at 80 percent for a further period of three months till September 25, 2020.
On March 27, the minimum daily maintenance of the CRR was reduced from 90 percent of the prescribed CRR to 80 percent till June 26, 2020 due to the hardships faced by banks in terms of social distancing of staff and consequent strains on reporting requirements.