To ensure that the effects of the Covid-19 pandemic on the Indian economy are mitigated and that financial markets and institutions continue to function normally, the Reserve Bank of India on Monday said it will once again conduct a sell/buy swap auction worth $2 billion to provide dollar liquidity. It will persist with longterm repo operations (LTROs) to infuse long-term rupee liquidity amounting to ₹ 1 lakh crore.
While there was speculation in the financial markets that the RBI would announce an inter-meeting repo rate cut in sync with what some of the other G-20 central banks have done to prop up their economies, Governor Shaktikanta Das said the RBI’s effort is to see that its responses are neither premature nor delayed.
Esta historia es de la edición March 17, 2020 de The Hindu Business Line.
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