NE BUSINESS BUREAU
CHENNAI, APRIL 17
Announcements by Reserve Bank of India Governor Shaktikanta Das on Friday is a sign of continued efforts to stimulate economic activity and protect jobs when the economy is open after the lockdown, said Chairman of TVS Motor Company Venu Srinivasan here on Friday.
In a statement issued here, Srinivasan said “I strongly support the measures announced by the RBI today to support the economy in this period. It is a sign of their continued efforts to stimulate economic activity and protect jobs. The LTRO for NBFCs and micro-lenders is a good tool to ease liquidity without tinkering with policy rates and Rs. 50,000 Crore is a substantial amount. This should, restore confidence especially among the MSME sector which provides a significant portion of the country’s jobs and is integral to all supply chains.
That coupled with a cut in the reverse repo rate will incentivise banks to actively lend to those most in need of funds and make it affordable for businesses to borrow, address their working capital needs and get back into action as the country opens.”
