Prime Minister Narendra Modi on Friday said the announcements made by the Reserve Bank of India (RBI) will greatly enhance liquidity and improve credit supply.
He further said these steps would help our small businesses, MSMEs, farmers and the poor.
“Today’s announcements by @RBIwill 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,” PM Modi tweeted.
Earlier in the day, RBI Governor, Shaktikanta Das announced a series of measures to keep the financial system and financial markets sound, liquid and smoothly functioning amid the COVID-19 pandemic.
The RBI has also reduced the reverse repo rate by 25 basis points from 4% to 3.75%.
