Business

RBI will take necessary steps to deal with liquidity deficit if needed: Governor Shaktikanta Das

RBI Governor Shaktikanta Das on Monday assured that adequate liquidity measures will be taken whenever the need arises. He also noted that liquidity should not become 'loose money' and the central bank would exercise all measures with caution.

The Reserve Bank of India has "a sense" of the current liquidity situaiton and after his appointment as its Governor has announced additional infusion of liquidity via open market operations (OMOs) of Rs 60,000 crore, Das said here on Monday after meeting the representatives of Micro, Small and Medium Enterprises (MSMEs)."While dealing with the issue of liquidity, I would also like to say that it is something which the RBI is constantlyy monitoring and will take steps whenever there is a need to deal with the liquidity deficit, if it is noticed.

" At the same time I must also add the RBI would not like a situation where liquidity becomes a kind of a loose money. Any infusion of liqidity will have to be very carefully considered and has to be need-based. So, the caution and care has to be excercised by the RBI, that excess liquidity which sometimes has adverse consequences that is not created," he added. Das further said that he will meet the representatives of Non-banking Financial Companies (NBFCs) on Tuesday in Mumbai. 

Good news for six crore EPFO subscribers, interest rates on deposits raised to 8.65%

The government has decided to increase the interest rates on the Employee Provident Fund deposits from existing 8.55 per cent to 8.65 per cent. This i...

Govt announces Rs 48,239 cr recapitalisation plan for 12 public sector banks

In order to help maintain regulatory capital requirements and finance growth plans, the finance ministry on Wednesday announced to pump in Rs 48,239 c...

Twitter strengthens political ads policy ahead of Lok Sabha Polls

Twitter on Tuesday said it would now provide details including ad spends and impressions data of tweets from political entities to users in India as i...

Anil Ambani Held in Contempt, Jail Term if Ericsson Not Paid Dues

The Supreme Court on Wednesday, 20 February, held Reliance Communications Chairperson Anil Ambani and two directors guilty of contempt of court for wi...