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
Trending On Reuters
India has asked YouTube to remove all links to a controversial documentary about the gang rape and murder of a woman in Delhi after banning its broadcast, a government official told Reuters on Thursday. Full Article
PM Modi to ramp up help for Indian Ocean nations to counter China influence Full Article