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RBI to inject additional Rs 30,000 cr to maintain financial stability in wake of COVID-19 outbreak

On the backdrop of Corona virus outbreak, the Apex Bank has decided to to ensure that all markets segments function normally with adequate liquidity and turnover.

As part of this endevour, the central bank willconduct purchase of government securities under open market operations (OMOs) for an aggregate amount of Rs 30,000 crore in two tranches of Rs 15,000 crore each in March. The auctions would be conducted on March 24 and March 30.

Earlier on Tuesday RBI had done the first tranche of OMO following the tightness in the commercial paper market.

Also yesterday, the central bank infused Rs 10,000 crore through open market operations.

RBI governor Shaktikanta Das had recently said that the regulator has enough policy tools and stands ready to take any measures” needed to help the economy tide over the impact of the coronavirus pandemic. 

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