RBI governor’s address has come at a critical time, as the businesses and individuals reel under the grave difficulties posed by pandemic’s second wave. Special term liquidity facility of ₹50,000 crore to ease access to Emergency Health Services, is a highly essential step taken. This, when coupled with some form of Credit Guarantee would smoothen the credit delivery. RBI announced re-opening of one-time restructuring for individuals and MSMEs till September 30, while further allowing the lending institutions to extend the period of moratorium up to 2 years, under restructuring 1.0. This move will offer immense relief to financial institutions as well as borrowers, towards effectively managing their working capital. Apart from this, I would like to suggest the authorities to extend the coverage of PSL to inculcate lending to NBFCs, whose assets are primarily MSMEs and small businesses. This will in turn enhance the ability of NBFCs to provide credit to the affected businesses.