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Steps taken by RBI will help middle-class, businesses during lockdown: PM Modi
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Prime Minister Narendra Modi on Friday lauded the Reserve Bank of India’s (RBI) decision to cut benchmark interest rates, three-moratorium on payment of installments, along with other measures on term loans will help the middle-class and the businesses deal with the 21-day nationwide lockdown in the wake of COVID-19 pandemic. “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," Modi said in a tweet. Reserve Bank of India Governor Shaktikanta Das, earlier during the day announced a host of measures to alleviate financial stress, build confidence and keep the financial system sound.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
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Brazil
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Deaths: 608 235
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