RBI takes more steps to tighten liquidity, support rupee - Times of India

The author has posted comments on this articleReuters | Jul 23, 2013, 06.56PM IST MUMBAI: The Reserve Bank of India on Tuesday announced further measures to tighten banking system liquidity and to stabilize the falling rupee. The RBI set the overall limit for borrowing under the daily liquidity adjustment facility (LAF) for each bank at 0.5% of deposits, outstanding as of the last Friday of the reporting cycle two weeks prior to the current one. The central bank also said banks need to maintain 99% of their daily cash reserve ratio requirements with the RBI, as against 70% now. This measure takes effect from the two-weekly period starting July 27. via Top Stories - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNErUxM6GRgBsII3AzmfWRigk_7DFw&url=http://timesofindia.indiatimes.com/business/india-business/RBI-takes-more-steps-to-tighten-liquidity-support-rupee/articleshow/21277697.cms

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