Prime Minister Narendra Modi on Friday said the announcements made by the Reserve Bank of India 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," he said on Twitter.
RBI Governor Shaktikanta Das has announced new measures to maintain adequate liquidity in the system, facilitate bank credit flow and ease financial stress.
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.
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