Mumbai (PTI): The Reserve Bank of India on October 1 announced that it will inject Rs 36,000 crore liquidity into the system through purchase of government bonds in October to meet the festival season demand for funds.
“Based on an assessment of the durable liquidity needs going forward and the seasonal growth in currency in circulation observed in build-up to the festive season, RBI has decided to conduct purchase of government securities under OMOs for an aggregate amount of Rs 360 billion in the month of October,” the central bank said in a release.
The auctions, it further said, “would be conducted during the 2nd, 3rd and 4th week of October”.
India Tribune, as an English weekly newspaper, was launched in 1977 in Chicago by its publisher Prashant Shah with a lofty ideal to serve the Asian Indian community in the USA. Over the years, it has grown with all vigor, and now it is being published in three editions – Chicago, New York and Atlanta. India Tribune, a journal of its kind for the family in the USA, has been a household name for many Indians for over three decades with each issue commanding a readership of over 125,000.
