Several attempts to make liquidity available to small non-bank lenders haven’t succeeded. The previous liquidity windows have failed to ensure distribution of resources. As per a CARE Ratings analysis, TLTRO 2.0 did not enjoy success as only₹12,500 crore out of the announced ₹50,000 crore was availed of, while the first edition was crowded out by AAA-rated borrowers.
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