The Reserve Bank of India will conduct a massive $10 billion three-year dollar/rupee swap auction next week to infuse durable rupee liquidity into the banking system, which has been reeling under large cash deficits,

MUMBAI: In a move aimed at improving liquidity in the banking system, the RBI has said that it will conduct a USD/INR buy/sell swap auction on Feb 28 to inject Rs 86,000 crore into the banking system.

India's central bank, the Reserve Bank of India (RBI), on Friday, February 21, announced that they have decided to conduct a $10 billion USD/INR Buy/Sell auction for the tenure of three years.

India on Saturday appointed its former central bank chief Shaktikanta Das as Prime Minister Narendra Modi's principal secretary, according to a government notice. The appointment comes after Das finished his second term at the helm of the Reserve Bank of India in December last year,

Never Lose Your Faith in India’s Destiny,” said Shaktikanta Das, the former and 25th Governor of the Reserve Bank of India (RBI), who is all set to take on a new, pivotal role as Principal Secretary-2 to Prime Minister Narendra Modi.