The number of people below the poverty line has increased from 6 crore to 13.4 crore due to Covid (Pew Research ). The middle class has shrunk by 3.2 crore due to the pandemic (Pew Research).
RBI set relatively higher cut-off rate for additional competitive underwriting commission for PDs for the 2030 G-Sec, says Marzban Irani, CIO-Fixed Income, LIC Mutual Fund
RBI to ensure comfortable level of liquidity in system this fiscal
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Last Updated: May 27, 2021, 04:07 PM IST
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Synopsis The Reserve Bank will ensure that system level liquidity remains comfortable during 2021-22 in alignment with the stance of monetary policy, and monetary transmission continues unimpeded while maintaining financial stability, according to the annual report 2020-21.
Reuters
The Reserve Bank on Thursday said it will ensure comfortable level of liquidity in the system during the current financial year and assured that monetary transmission will continue unimpeded . To counter the impact of COVID-19 first wave, the RBI had undertaken several conventional and unconventional measures to ensure ample liquidity in the financial system during the financial year ended March 31, 2021.
RBI stepped up G-Sec buys in past 2 weeks
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Synopsis
The central bank net purchased Rs 34,175 crore of sovereign papers between April 22 and May 4 from the secondary market to ensure lower borrowing costs amid concerns that the second Covid wave would derail the nascent economic recovery. Market experts believe that this could well be a record for a two-week period.
Reuters
The G-Secs Acquisition Programme (GSAP) and open-market operations (OMO) are the central bank’s rate-influencing tools.
The Reserve Bank of India (RBI) has stepped up sovereign bond purchases in the past two weeks to help lower borrowing costs, signalling its commitment to go beyond announced plans as growth revival temporarily trumps inflation management at Mint Road.