Backstop facility being set up for corporate bond market

The central government is working on setting up a backstop facility as announced in the Union Budget for 2021-22, according to Additional Secretary, Ministry of Finance, Anand Mohan Bajaj. The facility will be an entity that can trade in relatively illiquid investment-grade corporate bonds and be readily available in times of stress to buy such bonds from participants in the secondary market.

References
1. https://www.business-standard.com/article/economy-policy/govt-working-on-setting-up-backstop-facility-for-corporate-bond-mkt-121091701031_1.html