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On Friday, PM Narendra Modi on improving the circulation of credit stated”greatly enhance liquidity” which is a step forward from the RBI where they assissts to lighten the burden on non- banking finance companies. This measure of supplying credits initiated to boost small businesses, MSMEs, farmers, and poor ,reported Hindustan times. RBI governor Shaktikanta Das showed faith to deal with the challenges from which he cut the reverse repo rate by re-financing window of Rs,50,000 crores. The catch -22 situation looks forward and hoping to extend the date , also for commencement of commercial real estate by delaying their loans for an additional one year. He said addressing to media, “It has now been decided to extend similar treatment to loans given by NBFCs to commercial real estate,” reported Hindustan Times. This all has a chain to provide relief to the borrowers. He seems to show hope which is reported by The Print,” Since March 27, 2020, when I spoke to you last, the macroeconomic and financial landscape has deteriorated, precipitously in some areas; but light still shines through bravely in some others,” Das said, adding that there is policy space for the RBI to take necessary steps as the situation demands. Therefore he concluded a positive remark,” Eventually, we shall cure; and we shall endure” where RBI has allowed states to borrow more through way and means advances. The statement has been the effect of raising 60% on 30 March which was 30% and the limit for WMA advances will be available till 30 September reported by The Print.
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