MUMBAI (Reuters) – The Reserve Bank of India announced several measures including two more tranches of special open market operations in bonds while also raising the held-to-maturity limit under the statutory liquidity ratio for banks, it said on Monday.
“The RBI remains committed to use all instruments at its command to revive the economy by maintaining congenial financial conditions, mitigate the impact of COVID-19 and restore the economy to a path of sustainable growth while preserving
macroeconomic and financial stability,” the statement said.
The RBI will conduct two tranches of 100 billion rupees each of simultaneous sale and purchase of bonds on Sept. 10 and Sept. 17, it said in the statement.
RBI will also conduct term repo operations for a total of 1 trillion rupees at the prevailing repo rate in the middle of September to assuage pressures from advance tax outflows, it added.
(Reporting by Swati Bhat; Editing by Toby Chopra)
