Narendra Damodardas Modi (born 17 September 1950) is an Indian politician serving as the 14th and current Prime Minister of India since 2014. He was the Chief Minister of Gujarat from 2001 to 2014 and is the Member of Parliament for Varanasi. Modi is a member of the Bharatiya Janata Party (BJP) and of the Rashtriya Swayamsevak Sangh (RSS), a Hindu nationalist volunteer organisation. He is the first prime minister outside of the Indian National Congress to win two consecutive terms with a full majority and the second to complete five years in office after Atal Bihari Vajpayee.
To provide relief to the middle class amid the disruption caused by the coronavirus lockdown, the Reserve Bank of India today allowed banks and other financial institutions to permit moratorium on three months on payment of instalments of all term loans outstanding as on March 1, 2020.
In addition, the RBI today announced big rate cuts - both in repo rate and cash reserve ratio. The central bank also announced many measures to boost liquidity, a move that will release will inject a total liquidity of ₹3.74 lakh crore to the system.
These moves were welcomed by Prime Minister Narendra Modi who tweeted: "Today RBI has taken giant steps to safeguard our economy from the impact of the Coronavirus.