BRAND-NEW DELHI (Reuters) – India’s reserve bank will certainly be active in reacting to the liquidity requirements of the financial system, Reserve Bank of India (RBI) Governor Sanjay Malhotra informed press reporters on Saturday.
“We will be very, very watchful, alert and very nimble and agile in whatever are the requirements of the banking system to provide liquidity, both transient, overnight, as well as more durable liquidity,” he stated.
The RBI is not targeting any type of cost band for the rupee and concentrating much more on suppressing excess volatility, Malhotra stated after the reserve bank reduced its essential rates of interest for the very first time in virtually 5 years on Friday.
(Reporting by Aftab Ahmed; Editing by Sam Holmes)
