North Block will aim to borrow Rs 12.05 lakh crore this fiscal, of which 7.24 lakh crore will be borrowed in the first half.

Synopsis

“The market has drawn comfort from it as the central bank for the first time announced an asset purchase programme along with a counterbalance, a combination of which helps synchronize shorter duration rates with long term yields while balancing liquidity in the system.”

MUMBAI: Mint Road Wednesday moved closer in its policy articulation to Threadneedle Street or the Eccles Building, unwrapping a bespoke version of quantitative easing (QE) that admittedly has shades of a coordinated global central bank response to the unprecedented financial crisis – but with pronouncedly desi accents. North Block’s personal banker announced a bond purchase calendar and variable rate reverse repo (VRRR) auctions to harmonise

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