Let me assure our colleagues from the banking community and the business sector here in Mindanao that we shall continue to explore ways to enhance our operations so as to facilitate the greater flow of credit in the countryside. In line with this strategy, the BSP has approved a new project that will compliment the e-rediscounting system.
Knowing that banks cannot be compelled to subscribe to the programme, RBI provides the investors a higher yield for states’ paper over the centre’s paper of comparable maturity. Subsequently, we encouraged some states to go through auction route on a standalone basis.