Releasing 70,000 Crore Of Additional Funds For Banks, Says Nirmala Sitharaman | Read
PUBLISHED ON: August 23, 2019 | Duration: 3 min, 14 sec
Finance Minister Nirmala Sitharaman made a series of announcements today as she attempted to allay concerns over the state of the economy. Among the announcements was the release of additional funds to support lending and ensure liquidity of public sector banks. "We are releasing Rs. 70,000crores upfront as additional lending and liquidity. Banks decided to pass on rate cuts through MCLR reduction," she said.