Dollar-rupee swap, open market operations:RBI plans steps to inject cash

The Reserve Bank of India (RBI) will probably conduct at least one more swap of rupees for dollars after the general election, said three officials with direct knowledge of the plan, part of an effort to support economic growth.The central bank also plans to conduct open market operations of up to Rs 500 billion over the next two months, one of the officials said, expanding a quantitative easing programme to spur the slowing economy.These latest moves are expected to increase cash in the financial system and help push interest rates down, potentially helping borrowers where an ...

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