RBI doubles size of quantitative easing programme

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The Reserve Bank of India will more than double the scale of its asset purchases, it announced today, responding to the country’s ongoing Covid-19 crisis.

The RBI is already conducting a one trillion rupee ($13.7 billion) government securities acquisition programme (G-Sap). It plans to buy a further 400 billion rupees of government debt on June 17, including 100 billion rupees in state-level debt. Those purchases will bring total holdings under the G-Sap up to the trillion-rupee target.

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