Disclaimer: We may earn a commission if you make any purchase by clicking our links. Please see our detailed guide here.

Follow us on:

RBI measures will help protect the livelihoods of people: Nadda

Join the Opinion Leaders Network

Join the Techgenyz Opinion Leaders Network today and become part of a vibrant community of change-makers. Together, we can create a brighter future by shaping opinions, driving conversations, and transforming ideas into reality.

BJP president J P Nadda said on Friday that the measures taken by the RBI to deal with the crisis caused by coronavirus will help protect the livelihoods of people by infusing liquidity and improving credit flow.

Under the leadership of Prime Minister Narendra Modi, the government is taking all necessary steps to help the economy cope with this crisis arising out of COVID-19, Nadda said.

“Initial? 50,000 Cr to support small & mid NBFCs, refinance facilities of? 25,000 Cr to NABARD to help farmers, ?15,000 Cr to SIDBI to boost loans to start-ups & SMEs, ?10,000 Cr to NHB to support housing for all, will prove to be significant steps,” the BJP president tweeted, citing various measures announced by RBI Governor Shaktikanta Das.

The Reserve Bank of India on Friday cut the reverse repo rate and announced a slew of measures including a re-finance window of Rs 50,000 crore and targetted long term repo auction of a similar amount to deal with the impact of the COVID-19 pandemic.

Das assured that the RBI will use all instruments at its disposal to deal with the challenges posed by the outbreak of the novel coronavirus, depending on the evolving situation.

Partner With Us

Digital advertising offers a way for your business to reach out and make much-needed connections with your audience in a meaningful way. Advertising on Techgenyz will help you build brand awareness, increase website traffic, generate qualified leads, and grow your business.

Join 10,000+ Fellow Readers

Get Techgenyz’s roundup delivered to your inbox curated with the most important for you that keeps you updated about the future tech, mobile, space, gaming, business and more.

Recomended

Find Apps

The Ultimate Hub for Discovering Apps Unlock a world of apps: your ultimate hub for exploring and discovering limitless possibilities for on your every needs.

Power Your Business

Solutions you need to super charge your business and drive growth

More from this topic