Saturday, December 1, 2012

RBI to buy government securities to ease liquidity crisis

To ease the liquidity pressure in the banking system, the Reserve Bank of India has announced the purchase of governmant securities worth Rs 12,000 crore through Open Market Operations (OMOs) on December 4. The banks have been collectively borrowing over Rs 1 lakh crore on a daily basis since the second week of November. 

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