Modi showers praise on RBI Governor
New delhi sources stated that prime minister narendra modi said the announcements made by the reserve bank of india will greatly enhance liquidity and improve credit supply. He said "These steps would help our small businesses, MSMEs, farmers and the poor. It will also help all states by increasing WMA limits.
The bank cut the reverse repo rate and announced a slew of measures including re-finance window of Rs 50,000 crore and targeted long term repo auction of similar amount to deal with the impact of the COVID-19 pandemic. rbi governor Shaktikanta Das announced a slew of measures to ease flow of credit into the economy. A 25 basis point reverse repo cut, TLTRO (Targeted Long Term Refinancing Options) of Rs 50,000 targeted at NBFCs