MUMBAI 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)
Trending On Reuters
Eighteen village councils in Uttar Pradesh are demanding a local Coca-Cola bottling plant be prohibited from extracting water from the ground, claiming its over usage has led to water scarcity in the area, said an environmental campaign group. Full Article