Repo window won't turn surplus even if govt spends all balance: RBI
MUMBAI (Reuters) - The Reserve Bank of India's daily liquidity adjustment facility will not turn into surplus even if the government spends all its surplus cash balance, executive director Deepak Mohanty said on Wednesday.
Mohanty was speaking to analysts a day after the central bank cut its key repo rate and banks' cash reserve ration by 25 basis points each.
On Wednesday, banks borrowed 1.04 trillion rupees from the RBI's repo window, significantly higher than its comfort level of deficit.
(Reporting by Shamik Paul)
- Tweet this
- Share this
- Digg this
- Malaysia military source says missing jet veered to west
- U.S. drug regulator approves headband device to prevent migraines
- UPDATE 3-Time running out for EU bid to engage Russia, Germany warns
- UPDATE 3-Men's Wearhouse stitches up deal to buy Jos. A. Bank
- When Zach met Barack: pitching Obamacare online
Consumer inflation and industrial output data on Wednesday will likely offer little evidence of a respite from high inflation and weak economic growth before a general election that begins next month. Full Article
India halts plan to join global bond indexes, defers Euroclear - sources. Full Article
EXCLUSIVE - India to slash Iran oil imports to meet nuclear deal parameters: sources. Full Article