India central bank will be agile in responding to banks’ liquidity needs

NEW DELHI: India’s central bank will be agile in responding to the liquidity needs of the banking system, Reserve Bank of India (RBI) Governor Sanjay Malhotra told reporters on Saturday.

“We will be very, very watchful, alert and very nimble and agile in whatever are the requirements of the banking system to provide liquidity, both transient, overnight, as well as more durable liquidity,” he said.

India’s central bank delivers first rate cut in nearly 5 years

The RBI is not targeting any price band for the rupee and focusing more on curbing excess volatility, Malhotra said after the central bank cut its key interest rate for the first time in nearly five years on Friday.