Mumbai, Aug. 6 -- Reserve Bank governor Sanjay Malhotra has stated today that system liquidity, as measured by the net position under the Liquidity Adjustment Facility (LAF), has been in surplus, on an average of Rs 3.0 lakh crore per day since the last monetary policy meeting, as compared to an average daily surplus of Rs 1.6 lakh crore during the previous two months. Going ahead, as the Cash Reserve Ratio or CRR cut announced in the last policy comes into effect in a staggered manner beginning September, it would further support liquidity conditions. The comfortable liquidity in the banking system has reinforced transmission of the policy repo rate cuts to the money, bond and credit markets during the current easing cycle. In the credit...