The Covid-19 pandemic has clogged the financial sector despite the RBI taking multiple steps to ease the credit flow, according to Sanjeev Sanyal, principal economic adviser to the government of India.
Addressing members of the Bharat Chamber of Commerce on Tuesday, Sanyal said there was an immediate need to inject liquidity into the system.
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RBI auction
The government of India has announced the sale of three dated securities for Rs 19,000 crore, the auction for which will be held on May 8.
In a statement on Monday, the RBI announced the auctions for these securities that include the sale of government securities maturing on 2022 with a coupon of 5.09 per cent.
