RBI Governor Shaktikanta DasRBI Governor Shaktikanta Das
MUMBAI: The Reserve Bank of India on Wednesday announced a targeted on-tap liquidity window of Rs 50,000 crore to set up Covid-related healthcare infrastructure to counter the devastating coronavirus surge gripping the country. Under the scheme, banks can provide fresh lending support to a wide range of entities including vaccine manufactures; importers/suppliers of vaccines and priority medical devices; hospitals/dispensaries; pathology labs; manufactures and suppliers of oxygen and ventilators; importers of vaccines and Covid related drugs; logistics firms and also patients for treatment, RBI governor Shaktikanta Das said at a virtual briefing.
Shaktikanta Das said cheap loans would be available until March 31 next year, and vowed to deploy unconventional measures if the crisis worsens.
RBI to purchase G-Secs worth Rs 35,000 crore under G-SAP 1.0 on May 20
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Last Updated: May 05, 2021, 01:47 PM IST
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The first purchase of Rs 25,000 crore last month received an enthusiastic response from the market, RBI Governor Shaktikanta Das said.
RBI Governor Shaktikanta Das announced a slew of measures to provide relief to various segments of the economy.
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MUMBAI: The RBI on Wednesday said the second purchase of government securities worth Rs 35,000 crore under the G-sec Acquisition Programme (G-SAP 1.0) will be done on May 20 for an orderly evolution of the yield curve as a fresh COVID-19 wave threatens to hit the economy.
May 05, 2021
Shaktikanta Das, Governor, RBI (File photo) - PAUL NORONHA×
Second auction of G-Secs for ₹35,000 cr under G-SAP 1.0 to be held on May 20
The Government Securities (G-Secs) prices rose on Wednesday as the Reserve Bank of India (RBI) decided to increase the quantum of the G-Secs it will purchase at the second auction, under the G-Sec Acquisition Programme (G-SAP 1.0), to ₹35,000 crore as against ₹25,000 crore, it purchased during the first auction.
“The second auction of the G-Secs for an aggregate amount of ₹35,000 crore under G-SAP 1.0 will be conducted on May 20, 2021,” RBI Governor Shaktikanta Das said.
The price of the benchmark 2030 G-Sec (carrying a coupon rate of 5.85 per cent) rose 26 paise to close at ₹99.07 (previous close: ₹98.81), with its yield declining below 6 per cent to close at 5.98 per cent (6.01 per cent). The bond prices and yields are inversely related and move in opposite directions. The first purchase of the G-Secs for
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RBI announces second purchase of Rs 35,000 crore G-secs to boost liquidity amid Covid crisis
RBI on Wednesday said the second purchase of government securities worth Rs 35,000 crore under the G-sec Acquisition Programme (G-SAP 1.0) will be done on May 20 for an orderly evolution of the yield curve as a fresh COVID-19 wave threatens to hit the economy.
The first purchase of Rs 25,000 crore last month received enthusiastic response from the market, Reserve Bank of India (RBI) Governor Shaktikanta Das said while announcing slew of measures to provide relief to various segments of economy hit by the second wave of the pandemic.
Need to do more to rein in yields: MPC
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Last Updated: Apr 23, 2021, 07:05 AM IST
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A debate about the efficacy of the central bank’s guidance appears to be intensifying within the MPC with Governor Shaktikanta Das hesitant to commit himself on a time-bound guidance, while Prof. Jayant Varma declaring it to be ineffective and calling for action by the central bank.
The conduct of monetary policy could be smooth and is firmly in control even if external factors such as rising dollar and a flight of capital happen.
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Mumbai: The resurgence of Covid virus dominated the Monetary Policy Committee deliberations with members worrying that economic recovery could stall leading to them suggesting that the Reserve Bank of India should dip into its arsenal to bring down long-term interest rates as forward guidance has failed to keep a lid on yields.