RBI suspends GSAP, holds interest rates
The Hindu
Governor Das cites strengthening growth impulses, ample liquidity for decision to halt bond buying
The Reserve Bank of India (RBI) on Friday said it was halting its bond buying under the G-Sec Acquisition Programme (GSAP) for now, with Governor Shaktikanta Das stressing that the measure had succeeded in ensuring adequate liquidity and stabilising financial markets.
“Coupled with other liquidity measures, it facilitated congenial and orderly financing conditions and a conducive environment for the recovery,” Mr. Das said after announcing the Monetary Policy Committee’s decision to keep interest rates unchanged and retain an ‘accommodative’ policy stance.
“The total liquidity injected into the system during the first six months of the current financial year through open market operations (OMOs), including G-SAP, was ₹2.37 lakh crore, as against an injection of ₹3.1 lakh crore over the full financial year 2020-21,” he noted.
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