RealNews

India's central bank moves to increase liquidity

India’s central bank on Friday said it would inject a further 400 billion rupees (8.2 billion dollars) into the financial system, by cutting the cash reserve commercial banks must hold to 7.5 percent. “This was done due to the evolving liquidity situation in the context of global and domestic developments,” the RBI said in a statement. The RBI injected 200 billion rupees (4.16 billion dollars) into the financial system on Monday. Full Story

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