Mumbai, June 23 (IANS) The Reserve Bank of India (RBI) on Tuesday pumped in over Rs 1.41 lakh crore of transient liquidity into the banking system through a seven-day variable rate repo (VRR) auction.The funds were injected into the system at a cut-off rate and weighted average rate of 5.26 per cent, according to figures released by the RBI.This was done after the liquidity in the banking system turned into a deficit of Rs 19,971.89 crore as on June 22, from a surplus of Rs 30,685.11 crore as on…
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New Delhi, June 6 (IANS) The Reserve Bank of India (RBI) is examining a proposal to introduce polymer or plastic currency notes, although no final decision has been taken yet, Governor Sanjay Malhotra has said.Malhotra has said that the proposal remains under consideration and is still at a preliminary stage.He stated that as far as polymer notes are concerned, the proposal is under consideration, adding that as soon as any decision is taken on it, we will inform you.Malhotra acknowledged that r…
Mumbai, May 20 (IANS) The Reserve Bank of India on Wednesday announced that it will conduct a USD/INR buy-sell swap auction worth $5 billion on May 26 to inject liquidity into the banking system amid evolving market conditions.According to the central bank, the auction will be conducted for a tenor of three years and is scheduled to take place between 10:30 a.m. and 11:30 a.m. on May 26.The near-leg or spot settlement date has been fixed as May 29, 2026, while the far-leg maturity date will be M…
Mumbai, April 16 (IANS) The Reserve Bank of India (RBI) on Thursday announced it will conduct a Rs 2 lakh crore seven-day variable rate reverse repo (VRRR) auction on April 17 to manage surplus liquidity in the banking system.In a notification, the central bank said the decision comes in view of the prevailing transient surplus liquidity conditions.The auction will be held between 9:30 am and 10:00 am on Friday, with funds scheduled to be reversed on April 24.The move is aimed at absorbing exces…
New Delhi, April 14 (IANS) India can withstand a sharp energy shock due to its strong domestic fundamentals, potential government support, and significant improvement in corporate and banking sector health over the past few years, a report said on Tuesday.The report from S&P Global Ratings said robust corporate balance sheets and banks’ strong capital and profitability would cushion the economy against higher energy prices.”India’s robust external position gives it buffers to absorb some s…
Mumbai, April 10 (IANS) The Reserve Bank of India announced on Friday that it is carrying out a Variable Rate Reverse Repo (VRRR) auction worth Rs 2 lakh crore with a 7-day tenor to absorb excess, durable liquidity from the banking system. The date of reversal is April 17.The VRRR is used to absorb excess liquidity when the system has a surplus, which helps maintain interest rates within the RBI’s prescribed corridor.This move follows the RBI’s revised liquidity management framework, which prior…
Mumbai, March 30 (IANS) The Reserve Bank of India (RBI) on Monday injected Rs 84,582 crore into the banking system to enhance liquidity through two variable rate repo (VRR) auctions.The central bank injected Rs 50,001 crore through the first three-day VRR auction early in the day at a cut-off rate of 5.34 per cent and weighted average rate of 5.44 per cent, according to an RBI statement.The RBI injected another Rs 34,581 crore at 5.26 per cent cut-off and 5.30 per cent weighted average rate at a…
Mumbai, March 9 (IANS) The Reserve Bank of India on Monday injected Rs 50,000 crore into the banking system by purchasing government securities through an Open Market Operation (OMO), aiming to maintain comfortable liquidity conditions ahead of expected tax-related outflows.Under the operation, the central bank purchased several bonds with different maturity periods.These included 6.33 per cent government securities maturing in 2035 worth Rs 13,507 crore and 6.01 per cent bonds maturing in 2030 …
Mumbai, Feb 16 (IANS) Currency in circulation (CiC) in India reached an all‑time high of about Rs 40 lakh crore by January 2026 end, with year‑on‑year growth accelerating to 11.1 per cent from 5.3 per cent last year, a report said on Monday.The report from SBI Research said on an incremental basis (YTD), the currency with public (CWP), accounting for 97.6 per cent of the circulated currency, reached an all time high of around Rs 39 lakh crore. Meanwhile, CiC surged Rs 2.76 lakh crore or 3….
Mumbai, Jan 23 (IANS) The Reserve Bank of India (RBI) on Friday announced a series of liquidity-enhancing measures that will pump in more than Rs 2 lakh crore into the banking system to ease liquidity pressure.The RBI said it will use a combination of open market bond purchases, a foreign exchange swap, and a variable rate repo operation to ease liquidity conditions in the financial system. The steps are being undertaken following a review of current liquidity and financial conditions.As part of…