New Delhi: The Reserve Bank of India (RBI) seems to be making every effort to avert the economic downturn amid the Coronavirus crisis and lockdown. The Central Reserve Bank (RBI) has announced a relief package almost twice since the lockdown was implemented. Meanwhile, the latest news is that the RBI has now decided to revive Mutual Funds.
Akshaya Tritiya: One can easily buy gold online at home
The RBI has chalked out a plan to get mutual funds out of this crisis. For this, financial assistance of 50 thousand crores has been announced. This scheme of RBI will be effective from today till May 11. With this, banks can apply to the RBI on any business day for funding.
On Akshaya Tritiya Gold worth crores sold
Experts say that the RBI has announced this facility only to reduce the pressure of liquidity in mutual funds. With this announcement, RBI reiterated that it will take all possible and necessary steps to preserve economic stability and reduce the impact of coronavirus on the economy. Experts say that Franklin Templeton Mutual Fund had decided to discontinue its six credit schemes on its own, raising investor fears.
