Spot-Fixing Scandal
Scandal engulfs Indian cricket; web of players, bookies faces scrutiny
Cricket, the "gentleman's game", has been hit by a series of gambling-related scandals in international matches in recent years. But S.Sreesanth's case is the first time allegations of "fixing" in the IPL are being heard in a court of law, despite a huge, illegal betting industry that has grown up around the tournament. Full Article
REUTERS SHOWCASE
 |
Deflated expectations
Breakingviews columnists discuss the implications of inflation being in decline globally. Video
Revenge of Markets
For months, markets have been dancing to central bankers' tune, but that may now be changing, writes James Saft. Full Article
Buy, Sell or Hold?
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Reuters India Mobile
Get the latest news on the go. Visit Reuters India on your mobile device. Full Coverage
Liquidity deficit within comfort zone: RBI's Gokarn
Currency of different denominations are seen in this picture illustration taken in Mumbai April 30, 2012.
Credit: Reuters/Vivek Prakash/Files
KOLKATA |
KOLKATA (Reuters) - The Indian banking system liquidity deficit is within comfort zone and the RBI will take more steps to address the deficit if needed, its Deputy Governor Subir Gokarn said on Friday.
"An OMO (open market operation) gives us the flexibility to respond in very short order to stresses," Gokarn told reporters on the sidelines of an industry event.
"So, if we see them remaining in the system, then obviously we have the capacity to respond to them," he said referring to the liquidity stress.
Last week, the RBI resumed bond purchases through the open market after a span of five months to offset the impact of expected cash outflows as corporates start paying taxes ahead of the December 15 deadline.
The banking system's liquidity shortage has stayed above the central bank's stated comfort zone since the middle of last month due to festive season withdrawal of funds from banks and the slow pace of government spending.
Banks borrowed over a trillion rupees for 11 consecutive sessions last month, compared with RBI's comfort zone of about 700 billion rupees.
(Reporting by Shamik Paul; Editing by Prateek Chatterjee)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters