RBI to Pump Liquidity Worth Rs 12,000 Crore on November 15

Mumbai: The Reserve Bank of India (RBI) would inject Rs 12,000 crore into the market by purchasing government securities on November 15, 2018.

The decision comes amid concerns of a liquidity crisis in the economy after the financial services company IL&FS reported defaults in September.

"Based on an assessment of prevailing liquidity conditions and also of the durable liquidity needs going forward, the Reserve Bank has decided to conduct purchase of... Government securities under Open Market Operations for an aggregate amount of Rs 120 billion on November 15, 2018 through multi-security auction using the multiple price method," the RBI said in a statement on Tuesday.