Business

RBI holds open market operations

The RBI has purchased ₹10,000-crore worth long-term government securities and sold ₹6,825 crore of short-term securities through open market operations (OMOs). Last week, the RBI had announced simultaneous purchase and sale of government securities under OMOs for ₹10,000 crore each.

The RBI also said to protect consumer interest, on a peer-to-peer lending (P2P) platform, the exposure of a lender to all borrowers must not exceed ₹50 lakh at any given point.

A lender investing over ₹10 lakh across P2P platforms will produce a certificate to P2P platforms from a chartered accountant certifying a minimum net worth of ₹50 lakh.

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Printable version | Feb 22, 2020 7:12:12 AM | https://www.thehindu.com/business/rbi-holds-open-market-operations/article30383155.ece

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