Disappointed With RBI Announcements, More Needed To Help Poor Amid Lockdown: Congress

The Congress expressed disappointment over the announcements made by the Reserve Bank of India (RBI) today to support the economy, saying the government should take more measures to mitigate the problems of the poor people suffering due to the coronavirus-induced lockdown.

Senior Congress leader Ajay Maken claimed the measures announced by the RBI would not help all those who are suffering due to the crisis caused by the virus and said the country's central bank should introduce more measures.

"The announcements made by the RBI have no meaning. The Congress and people are disappointed with the announcements. The government should take more measures to mitigate the problems of the poor and the vulnerable," he said at a press conference held via video link.

The RBI has further eased bad-loan rules, froze dividend payment by lenders and pushed banks to lend more by cutting the reverse repo rate by 25 basis points, as it unveiled a second set of measures to support the economy hit hard by a coronavirus-led slowdown.

In his second televised address since the nationwide lockdown began from March 25, RBI Governor Shaktikanta Das also pledged to boost liquidity and expand bank credit.

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