 "RBI's decision to cut lending rate will make loans affordable: Sitharaman")
Finance Minister Nirmala Sitharaman on Friday said the RBI's decision to cut the benchmark lending rate will make loans affordable amid the Covid-19 crisis.
The RBI on Friday reduced the repo rate by 40 basis points to a historic low of 4 per cent, besides extending loan moratorium for all retail and commercial borrowers by another three months till August 31.
"The RBI decision, not just this one even earlier, has been very timely, well thought through and made a lot of difference then and I guess even now it will make a lot of difference to the sentiment which prevails and also immediately make affordable liquidity available," Sitharaman told DD News.
"The extension of the moratorium is something which all of us have waited for, and I only welcome the decision of the RBI like the last time. It is timely and purpose serving,"she added.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app