Finmin Official Expects Government Cash Balance to 'Even Out' in Coming Weeks

The Indian government\'s cash balance is expected to \"even out\" in the coming weeks, a top finance ministry official said.

Published: 05th April 2016 12:12 PM  |   Last Updated: 05th April 2016 12:29 PM   |  A+A-

NEW DELHI: The Indian government's cash balance is expected to "even out" in the coming weeks, a top finance ministry official said on Tuesday, after the central bank unveiled steps to ensure more availability of cash in the banking system.

The Reserve Bank of India cut its policy interest rate by a quarter percentage point on Tuesday, reducing it to a more than five-year low. It also reduced the cash proportion of daily reserve requirements that banks must keep with it, while pledging to inject more long-term liquidity.

Shaktikanta Das, economic affairs secretary in the finance ministry, said the central bank's move on interest rates will help in transforming India into a low-cost economy.

Stay up to date on all the latest Business news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp