|
Govt's borrowings to go through smoothly -- RBI
REUTERS
MUMBAI, MARCH 4: The Reserve Bank of India (RBI) sees the Government's borrowing programme for 1999/2000 (April-March) going through smoothly, the deputy governor of the central bank said on Saturday. Reddy said latest budget estimates showed the Government was likely to borrow Rs 40 to 50 billion more before the end of the fiscal year in March, but said market speculation that it will be raised through securities' auctions was premature. "There has also been speculation that this remaining borrowing needs of the Government in the current fiscal year will be raised through auction, only thus excluding any element of private placement," Reddy said."The RBI sees no reason, no basis, for such assumptions since even the actual extent of borrowings as well as the instruments and methods for raising the funds are yet to be firmed up," he said. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
|