In his second big announcement since the onslaught of Covid-19 began to wreck the Indian economy, RBI Governor Shaktikanta Das announced a slew of measures to ease flow of credit into the economy.
A 25 basis point reverse repo cut, TLTRO (Targeted Long Term Refinancing Options) of Rs 50,000 targeted at NBFCs; relaxation of asset classification norms; more funds for states - the RBI has increased the limit under Ways and Means Advances for states to avail short term funds to 60 per cent of the existing limit.
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