Coronavirus-driven recession looms large over India
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Mumbai, March 17 -- Central bank governor Shaktikanta Das on Monday announced measures to boost liquidity in the foreign exchange and domestic markets, even as he stopped short of cutting interest rates unlike his global peers.
The Reserve Bank of India (RBI) will conduct long-term repo operations (LTRO) worth up to Rs.1 trillion at the current policy rate and do another forex swap on 23 March to provide dollar liquidity to the market. The steps fell short of investors' expectations.
"We will use the various policy instruments from time to time, depending on the requirement. Our response will be calibrated. Our effort is to see that our responses are neither premature nor delayed," he said.
Das said that RBI stands ready to act and the...
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