PM Modi praises RBI Governor’s announcements

Delhi: Prime Minister Narendra Modi today said the announcements made by Reserve Bank of India RBI Governor will improve liquidity and credit supply and also help small businesses, farmers and poor. 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,” PM Modi said on Twitter. RBI Governor Shaktikanta Das today announced new measures to maintain adequate liquidity in system, facilitate bank credit flow and ease financial stress. The central bank announced that it will conduct targetted LTRO of 50,000 crore, cut reserve repo rate by 25 basis points and eased NPA rules for banks.