The Modi government and RBI are trying to cushion the Indian economy that was slowing even before the coronavirus outbreak. Here’s a guide to the measures announced so far MUMBAI : India’s government and central bank are trying to cushion an economy that was slowing even before the coronavirus outbreak.
Here’s a guide to the measures announced so far: For Banks: Cheaper cash: A series of steps announced this year aim to encourage banks to lend. ■ Banks don’t need to set aside cash reserves for loans given to small businesses between Jan.
31 to July 31, or for credit to help consumers buy a car or home (announced Feb. 6) ■ Policy lending rate -- the repurchase rate -- cut by 75 basis points in a single move this year.