RBI doubles size of quantitative easing programme


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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