RBI board agrees to improve liquidity | The Daily Star
12:00 AM, November 20, 2018 / LAST MODIFIED: 12:00 AM, November 20, 2018

RBI board agrees to improve liquidity

The board of the Reserve Bank of India (RBI) on Monday agreed to ease liquidity for the financial sector and increase credit to small businesses, two sources present at the meeting said.

The move comes in response to pressure from Prime Minister Narendra Modi's government which faces a general election by next May and is concerned that low farm prices and difficulties small businesses face in borrowing, may hurt its prospects with voters.

Some more contentious issues were kicked down the road to be discussed by newly formed committees, the sources said.

The government has been pressuring the RBI to reduce capital ratios for banks to speed up loans to small businesses, a key vote bank for Modi.

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