Mumbai, Oct. 22 -- To provide banks with liquidity that can be used to support specific sectors, the Reserve Bank of India will conduct 'On tap Targeted Long-term Repo Operations' on Thursday.
The operations will be conducted for a total amount of up to Rs 1,00,000 crore at a floating rate linked to the policy repo rate for up to three years tenor.
"Liquidity availed by banks under the scheme has to be deployed in corporate bonds, commercial paper and non-convertible debentures issued by the entities in specific sectors over and above the outstanding level of their investments in such instruments as on September 30, 2020," the RBI said in a statement.
"Liquidity availed under the scheme can also be used to extend loans and advances to th...