RBI will infuse more liquidity if needed: deputy

NEW DELHI Wed Nov 21, 2012 4:53pm IST

The Reserve Bank of India (RBI) logo is pictured outside its head office in Mumbai July 26, 2011. REUTERS/Danish Siddiqui/Files

The Reserve Bank of India (RBI) logo is pictured outside its head office in Mumbai July 26, 2011.

Credit: Reuters/Danish Siddiqui/Files

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NEW DELHI (Reuters) - The Reserve Bank of India (RBI) will step in to provide more liquidity into the market if the need arises, deputy governor with the central bank Keshab Chandra Chakrabarty said on Wednesday.

He declined to say whether the RBI will resort to buying bonds through open market operations to inject liquidity.

Borrowings in the daily repo auction have risen above 1 trillion rupees for six consecutive sessions, nearly double the deficit level seen as acceptable by the RBI.

(Reporting by Arup Roy Choudhury; Writing by Neha Dasgupta)

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