Union Home Minister Amit Shah tweeted 'leaving no stone unturned' after RBI's announcents taking several measures for safeguarding Indian Economy. In the same row PM Modi, Defence Minister Rajnath Singh, BJP President J P Nadda also joined appreciating RBI Governor's new guidelines announced earlier on Friday. After RBI made announcements, several ministers came forward to give their opinions regarding the same.
Earlier today RBI conducted its second press meeting in a month today and announced new measures and has provided several benefits to banks to ensure liquidity .
RBI has done this with the objective of ensuring that banks maintain sufficient buffers and have adequate provisions to meet future challenges, RBI Governor Shashikant Das said in his media briefing today. Later Home Minister Amit Shah appreciating RBI said 'Modi govt is leaving no stone unturned in this fight against Covid19, ensuring minimum disruption in lives and stable India in days ahead. Steps taken by RBI today will further reinforce Prime Minister's vision',
The measures announced by RBI will not only maintain adequate liquidity in the system but also boost the economic recovery in the country. PM Narendra Modi is leaving no stone unturned to stimulate the Indian Economy in these difficult times and give relief to people, Defence Minister Rajnath Singh tweeted. The various measures announced by RBI including providing financial assistance to NABARD, SIDBI and NHB will help in facilitating easy credit flow and development of agricultural, housing and micro, small and medium enterprise sectors.
Modi Government is leaving no stone unturned in this fight against COVID-19, ensuring minimum disruption in lives of propleehile planning for a strong and stable India in days ahead. Steps taken by RBI today, further reinforce PM Narendra Modi 's vision, Amit Shah tweeted.
BJP Pesident JP Nadda also stated that PM is taking all necessary steps to help the economy cope up with Covid-19 crisis and added that RBI's announcements today on providing liquidity and facilitating credit flow will further help in this battle. RBI earlier today announced a cut in reverse repo rate by 25 basis points from 4 percent to 3.75 percent to inject liquidity in the banking system in the light of the dreadful situation the country is going through.
Also Read- RBI Announcements ok liquidity & Rapo rate
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 limit, PM Narendra Modi tweeted.