RBI's steps will enhance liquidity, and improve credit supply: PM Modi

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 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. Amit Shah also applauded RBI's efforts which according to him will boost the Indian economy amid the coronavirus crisis.

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.

— Narendra Modi (@narendramodi) April 17, 2020

Modi government is leaving no stone unturned in this fight against COVID-19, ensuring minimum disruption in people’s lives while planning for a strong and stable India in days ahead.

Steps taken by RBI today, to boost Indian economy, further reinforce PM @narendramodi’s vision.

— Amit Shah (@AmitShah) April 17, 2020