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
India is targeting up to $1 billion of private investment by 2017 to build rail lines linking ports and national networks to ease growing congestion, which has delayed coal imports for power plants and contributed to a power supply crisis. Full Article
Hyundai Motor, Kia Motors lift 2014 global sales target on China, emerging markets Full Article