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RBI announcements to safeguard economy from impact of coronavirus: PM Modi

The RBI cut the benchmark interest rate by 75 basis points to 4.4 percent on Friday to deal with the hardship caused due to the outbreak of COVID-19.

March 27, 2020 / 01:03 PM IST

Prime Minister Narendra Modi on Friday said the Reserve Bank of India (RBI) had taken giant steps to safeguard the economy from the impact of the coronavirus.

The RBI cut the benchmark interest rate by 75 basis points to 4.4 percent on Friday to deal with the hardship caused due to the outbreak of COVID-19.

"The announcements will improve liquidity, reduce cost of funds, help middle class and businesses," Modi wrote on Twitter.
PTI
first published: Mar 27, 2020 12:45 pm
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