RBI’s announcements will greatly improve credit supply, help farmers, poor: PM Modi


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▴ RBIs announcements will greatly improve credit supply help farmers, poor PM Modi
PM Modi says that RBI's announcement will greatly help the farmers and poor.

When India is throbbing with 13, 387 Coronavirus active, Centre announces exemptions to a some more areas from the purview of the present lockdown that includes construction activities in rural areas, water supply, sanitation works and functioning of non-banking financial institutions. Congress leader Rahul Gandhi had raised the concern and defined lockdown as ‘pause button, not a solution to coronavirus’ after PM Modi extends the 21-day nationwide lockdown till May 3.

RBI Governor Shaktikanta Das announced second cut to cut key deposit rates in three weeks.  PM Modi took to the twitter and says, “Today’s announcements by the RBI will greatly enhance liquidity and improve credit supply. These steps would help our small businesses, MSMEs (micro, small and medium enterprises), farmers and the poor. It will also help all states by increasing WMA (a credit policy to provide state governments with cash flow issues.

Tags : #PM #Modi #RBI #Poor #Creditsupply #Farmers

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