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    RBI policy a giant step, will help middle class, businesses, says PM Narendra Modi

    RBI policy a giant step, will help middle class, businesses, says PM Narendra Modi

    RBI policy a giant step, will help middle class, businesses, says PM Narendra Modi
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    By CNBC-TV18  IST (Published)

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    Prime Minister Narendra Modi has termed the monetary measures taken by the Reserve Bank of India (RBI) as "giant steps to safeguard our economy from the impact of the Coronavirus".

    Prime Minister Narendra Modi has termed the monetary measures taken by the Reserve Bank of India (RBI) as "giant steps to safeguard our economy from the impact of the Coronavirus".
    In a tweet, PM Modi said that the RBI's monetary policy announcements will improve liquidity and help middle class and businesses.
    The RBI Governor Shaktikanta Das on Friday announced a repo rate of 75 bps to 4.4 percent. It was the first time the MPC met outside its bi-monthly meeting calendar. It also cut CRR by 100 bps to 3 percent and allowed a 3-month moratorium to all banks, financial institutions on all term loans.
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