RBI says ready to inject more cash into banks at March-end | Mint
Active Stocks
Fri Feb 23 2024 15:58:13
  1. Tata Steel share price
  2. 145.50 -0.24%
  1. State Bank Of India share price
  2. 759.40 -0.86%
  1. HDFC Bank share price
  2. 1,420.90 0.08%
  1. NTPC share price
  2. 337.70 -0.54%
  1. ITC share price
  2. 411.60 -0.65%
Business News/ Industry / RBI says ready to inject more cash into banks at March-end
BackBack

RBI says ready to inject more cash into banks at March-end

RBI says it is ready to inject adequate amount of extra cash into banks if needed ahead of March-end to give flexibility to lenders to manage their liquidity mismatches that typically happen at quarter-end

The RBI will also allow standalone primary dealers to avail term repo auctions on 28 March. Photo: MintPremium
The RBI will also allow standalone primary dealers to avail term repo auctions on 28 March. Photo: Mint

Mumbai: The Reserve Bank of India will be ready to inject adequate amount of extra cash into banks if needed ahead of March-end to give flexibility to lenders to manage their liquidity mismatches that typically happen at quarter-end, it said in a release on Thursday.

The RBI said it “stands ready" to provide additional cash “using a combination of appropriate instruments" without giving any further details on specific steps, to address any extra demand for liquidity due to advance tax payments and increase in withdrawal of cash from banks towards March-end.

The 10-year benchmark bond yield briefly eased by 1 basis point to 7.58%, but came back to 7.59% as hopes of open market purchases of bonds stayed feeble.

The RBI will also allow standalone primary dealers to avail term repo auctions on 28 March, it said. Reuters

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Industry News, Banking News and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates.
More Less
Published: 15 Feb 2018, 04:46 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App