RBI set to launch second round of asset purchases
Indian central bank seeks to curb borrowing costs amid severe Covid-19 outbreak
The Reserve Bank of India is preparing to launch a second round of asset purchases, as it looks to curb yields on government debt amid a severe outbreak of Covid-19.
The RBI announced its government securities acquisition programme, or G-Sap, on April 7, with a total value of one trillion rupees ($13.6 billion). Governor Shaktikanta Das said the first auction, for 250 billion rupees of bonds, held on April 15, had “elicited an enthusiastic response”.
The RBI now plans to buy 350 billion rupees
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