The Finance Ministry gave in-principle approval to sanction supply credit to Bharat Biotech and Serum Institute of India to ramp up COVID vaccine production, as per a CNBC report.?
It will be sanctioned to the nodal ministers in charge who then shall pass it on to the companies to ramp up vaccine production, as per reports.
Rs 3000 crore credit for Serum Institute and Rs 1500 crore to Bharat Biotech is the division.?
The payment will be released at the earliest.?
Earlier in April, Adar Poonawalla, who is the CEO of Serum Institute of India had asked the government for financial aid.?