Shri Sameer Narang, Chief Economist, Bank of Baroda in his interview with ET Now on 16th March, informed that crude has extended decline. According to him, RBI is providing liquidity into the market and is expecting more Long Term Repo Operations. He said that direct purchase of bonds give direct lines to banks to support lending and that we cannot get growth back because of the CoronaVirus outbreak. India’s near term outlook is at risk due to the global growth slowdown, however India may gain from the oil price fall.
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