RBI declares steps to ease strain on liquidity

Mumbai, August 31

The RBI on Monday introduced a bunch of steps, together with time period repo operations totalling Rs 1 lakh crore in mid-September to ease strain on the liquidity and preserve congenial monetary circumstances with a view to making sure sustainable restoration of financial progress.

As a part of the measures to ‘foster orderly market circumstances’, the RBI will conduct time period repo operations for an combination quantity of Rs 1,00,000 crore at floating charges in the midst of September to assuage pressures available on the market on account of advance tax outflows. The RBI stated as a way to scale back the price of funds, banks that had availed of funds beneath long-term repo operations (LTROs) could train an choice of reversing these transactions earlier than maturity. — PTI

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