NEW DELHI: RBI on Monday said it would offer Rs 1 lakh crore to banks via repo operations in two equal tranches on March 23- 24.
The objective is to tide over any liquidity requirement on account of disruptions due to coronavirus pandemic.
As the virus cases climbed in India, the central and state governments have decided to completely lock down 80 districts in 17 states from where Covid-19 cases have been reported while the states can extend the list of districts as they deem fit. There are expectations that the shutdown will surely hit corporate earnings of India Inc.
“The Reserve Bank is monitoring the evolving financial market conditions. The Reserve Bank will calibrate its operations to meet any need for additional liquidity support, if warranted, to ensure normal functioning of markets, promote staff welfare and preserve financial stability,” the central bank said in release.
