Finance Minister Nirmala Sitharaman on Friday asked banks for "quick transmission" of slashed interest rate as the RBI cut the key lending rate sharply by 75 basis points to boost liquidity in financial system to deal with the COVID-19 pandemic. In a tweet, the Finance Minister also welcomed RBI Governor Shaktikanta Das' statement that the macro economic fundamentals of the Indian economy are sound, and in fact stronger than what they were in the aftermath of the global financial crisis of 2008-09. "Appreciate @RBI @DasShaktikanta's reassuring words on financial stability," she said. The three-month moratorium on payments of term loan instalments (EMI) and interest on working capital give much-desired relief, she added. "...Slashed interest rate needs quick transmission," the Finance Minister said in another tweet.