Mumbai, Jan. 28 -- Relief arrived for India's parched banking system on Monday as the central bank rolled out measures to pump up liquidity.
The Reserve Bank of India (RBI) announced a set of forex and money market measures that will collectively infuse Rs.1.5 trillion over time, amid a clamour for liquidity from multiple bankers and money market participants.
The central bank said it will purchase government securities (G-Secs) worth Rs.60,000 crore through open market operations (OMOs) in three tranches of Rs.20,000 crore each.
Average liquidity deficit crossed Rs.3 lakh crore last week, thanks to heavygoods and services tax (GST) outflows.P17
Published by HT Digital Content Services with permission from Hindustan Times....