View from Mr. Som Mandal, Managing Partner, Fox Mandal on RBI’s surprise move to cut reverse REPO and other measures to preserve financial stability in Indian economy

New Delhi, April 20, 2020: “In the current depressing scenario marred by the total lockdown due to COVID-19 outbreak, the RBI has emerged as a bellwether for the Indian economy by announcing special refinance facilities amounting to Rs 50000 crore to NHB, SIDBI and NABARD. Altogether this move will go a long way in meeting the credit requirements especially in rural and small scale industries segment which will play a vital role in boosting up the Indian economy in terms of employment and GDP growth. Further, the 25 basis points reduction in repo rate announced by the RBI will encourage banks to help productive sectors of the economy to meet their credit requirements through the surplus funds since the banks will now have more money to lend to the customers.”

Corporate Comm India (CCI Newswire)