India

RBI’s announcements will help middle class and businesses : Prime Minister Modi

New Delhi: Today after RBI announced some major relief steps due to lockdown and coronavirus, Prime Minister Narendra Modi said that these steps will safeguard the economy and help middle class and businesses.

PM Modi tweeted, ” Today @RBI has taken giant steps to safeguard our economy from the impact of the Coronavirus. The announcements will improve liquidity, reduce cost of funds, help middle class and businesses.”

In a statement by the RBI Governor, read “Let me assure all that the Reserve Bank is at work and in mission mode, monitoring the evolving financial market and macroeconomic conditions; and calibrating its operations to meet any need for additional liquidity support as well as other measures, as may be warranted. It is our effort to ensure normal functioning of markets, nurture the impulses of growth and preserve financial stability.”

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