RBI To Provide Rs 1 Lakh Crore In March To Offset Cash Crisis

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    RBI is said to provide banks with Rs. 1 lakh crore in this month through longer tenure instruments for meeting the need of funds amid cash crunch towards the fiscal year end.

    RBI To Provide Rs 1 Lakh Crore In March To Offset Cash Crisis

    In a notification, the apex bank said it is, "prepared to inject adequate additional liquidity using a combination of appropriate instruments". The provision shall be in place over and above the normal course of Liquidity Adjustment Facility operations.

    Further the notification of the bank says, "After reviewing the current and evolving liquidity conditions in the banking system, it has been decided to conduct additional variable rate repo operations for longer tenors to provide additional liquidity support to the banks during March 2018."

    The central bank will engage in 4 variable rate term repo auctions valuing Rs 25,000 crore each in March 2018.

    With PTI Inputs

    Story first published: Tuesday, March 6, 2018, 13:53 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more