Mumbai (Maharashtra) [India], April 15 (ANI): The Reserve Bank of India (RBI) said on Wednesday it will conduct the next targeted long-term repo operations (TLTRO) for Rs 25,000 crore on April 17.
On March 27, the central bank had announced in the Statement of Developmental and Regulatory Policies to conduct TLTROs of up to three-year tenor of appropriate sizes for a total amount of up to Rs one lakh crore. So far, TLTROs for Rs 75,000 crore have been conducted in three tranches.
The move is likely to raise liquidity to calm market anxiety and facilitate smooth government borrowing as bond yields surge despite 75 basis points cut in interest rate. Reports say the RBI may also raise the ceiling on central and state governments’ borrowing through the Ways and Means Advances, a short term borrowing programme.