Mumbai: The Reserve Bank of India (RBI) on Friday said that it would manage the government’s borrowing programme in the most efficient manner.
“We will see that the market is stable. We will see there is no volatility and we will manage the government borrowing programme in the most efficient way possible,” RBI governor, D Subbarao, said on the sidelines of the 6th Convocation Programme at the Indira Gandhi Institute of Development Research, in Mumbai.
Subbarao said that the government’s borrowing programme would be managed in the “least disruptive manner.”
Asked whether the RBI will consider tweaking rules for private placement of bonds, he said, “at this point, we have not decided. We are discussing with the government about the borrowing programme and how we need to borrow.”
“All options are open--we will manage to borrow in a transparent manner,” he added.
Subbarao described the present global crisis as unprecedented and said that the apex bank had, in its policy statement, said, “the year 2009-10 will be a difficult year than 2008-09.”