New Delhi: Prime Minister Narendra Modi on Friday lauded the announcements made by RBI on Friday and said these measures will enhance liquidity and improve credit supply.
In a tweet, PM 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.’
The RBI on Friday cut the reverse repo rate by 25 basis points and unveiled a second set of measures to support the economy amid a slowdown caused by a lockdown to prevent spread of Corona virus.
In his second press conference since the nationwide lockdown began from March 25, RBI Governor Shaktikanta Das also pledged to boost liquidity and expand bank credit.