New Delhi: Prime Minister Narendra Modi says announcements by RBI will greatly enhance liquidity, improve credit supply and would help small businesses, MSMEs, farmers and the poor. It will also help all states by increasing WMA limits.
Today’s announcements by @RBI will greatly enhance liquidity and improve credit supply. These steps would help our small businesses, MSMEs, farmers and the poor. It will also help all states by increasing WMA limits.
— Narendra Modi (@narendramodi) April 17, 2020
BJP president J P Nadda says measures taken by RBI to deal with crisis caused by #coronavirus will help protect livelihoods of people by infusing liquidity and improving credit flow.
The Reserve Bank of India (RBI) on Friday reduced reverse repo rate by 25 basis points (bps) to 3.75% in order to tackle the coronavirus menace. Addressing the media, RBI Governor Shaktikanta Das also announced a Rs 50,000-crore special refinance package for Nabard, Sidbi and NHB. RBI told banks not to make any dividend payouts until further notice.