BJP president J P Nadda stated on Friday that the measures taken by the RBI to take care of the disaster brought on by coronavirus will assist shield the livelihoods of individuals by infusing liquidity and bettering credit score move. Under the management of Prime Minister Narendra Modi, the federal government is taking all vital steps to assist the financial system address this disaster arising out of COVID-19, Nadda stated.
“Initial Rs 50,000 cr to support small & mid NBFCs, refinance facilities of Rs 25,000 cr to NABARD to help farmers, Rs 15,000 cr to SIDBI to boost loans to start-ups & SMEs, Rs 10,000 cr to NHB to support housing for all, will prove to be significant steps,” the BJP president tweeted, citing varied measures introduced by RBI Governor Shaktikanta Das.
The Reserve Bank of India on Friday reduce the reverse repo fee and introduced a slew of measures together with re-finance window of Rs 50,000 crore and targetted long run repo public sale of comparable quantity to take care of the impression of the COVID-19 pandemic.
Das assured that the RBI will use all devices at its disposal to take care of the challenges posed by the outbreak of the novel coronavirus, relying on the evolving state of affairs.