New Delhi: Prime Minister Narendra Modi lauded the announcements made by RBI today and said these measures will enhance liquidity and improve credit supply.
In a tweet, PM Modi said, “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”.
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
RBI Governor Shaktikanta Das announced a reduction in reverse repo rate by 25 basis points from 4 per cent earlier to 3.75 per cent now. The reduction in reverse repo rate is one of a slew of announcements made by the RBI governor today.
“The mission is to minimise the epidemiological damage in the country due to coronavirus. I want to convey the RBI’s resolve and the way forward,” said the RBI governor.
