PM Modi lauds measures announced by RBI today

RSTV Bureau
File photo: Prime Minister Narendra Modi

File photo: Prime Minister Narendra Modi

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”.

 

 

The Reserve Bank on Friday announced a slew of measures to infuse liquidity in the financial system including a cut in the reverse repo rate, Rs 50,000-crore targeted long-term repo operations (TLTRO) and refinancing facilities for NABARD, SIDBI and NHB.

Drawing comfort from the surplus liquidity in the system, the governor slashed the reverse repo rate by 25 basis points to 3.75 per cent.