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India said to plan using new tool from April to manage cash

India said to plan using new tool from April to manage cash

Friday, March 24, 2017, 3:07 PM

India is planning to introduce a new monetary-policy tool in the coming financial year to better manage a banking system swimming in excess cash, people familiar with the matter said. The so-called Standing Deposit Facility, or SDF, will help the Reserve Bank of India absorb surplus funds without having to provide lenders collateral in exchange.
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