RBI steps in to tackle liquidity crunch

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The Reserve Bank of India stepped up its actions to support liquidity today (October 1), helping to reassure investors shaken by the default of a major non-bank firm.

The central bank says it plans to inject 360 billion rupees ($4.9 billion) into the market via purchases of government debt, with the operations set to be conducted in the second, third and fourth weeks of October.

“Based on an assessment of the durable liquidity needs going forward and the seasonal growth in currency in

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