New Delhi: The Reserve Bank of India Friday rolled out additional measures targeted to help Non-Banking Finance Companies (NBFCs), micro, small and medium enterprises (MSMEs), and rural sector and housing finance companies (HFCs).
The central bank announced easing non-performing asset (NPA) classification norms. It also encouraged banks to lend to borrowers rather than deposit funds with it by slashing the reverse repo rate by 25 basis points to 3.75 per cent.
This is the second set of measures announced by RBI Governor Shaktikanta Das within a month to tackle a slowing economy, and impacts of Covid-19 lockdown.
Read the Governor’s full speech here:
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