India cbank chief says normal monetary policy operational now

MUMBAI Wed Dec 18, 2013 4:13am EST

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MUMBAI Dec 18 (Reuters) - India's central bank has reverted back to its normal monetary policy with ample liquidity available in the system, central bank governor Raghuram Rajan said on Wednesday.

"As far as rollback of measures, we have ample liquidity in the system. We have gone back to normal monetary policy at this point," Rajan told research analysts on a conference call when asked whether the central bank was done with reversing all the exceptional steps to support the rupee.

The Reserve Bank of India has still retained the cap on how much banks can borrow from it on a daily basis at 0.5 percent of deposits. (Reporting by Subhadip Sircar; Editing by Anand Basu)

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