India’s central bank plans to inject nearly $18 billion into the domestic financial system as it steps up efforts to ease a cash shortage that is at its highest in over a decade and which some see as hurting growth in Asia’s third-largest economy.

The Reserve Bank of India, on Monday, announced a slew of measures to inject liquidity into the banking system. The central bank will conduct Open Market Operation purchase auctions of government securities worth 600 billion rupees ($6.

RBI announced measures to infuse over Rs 1.5 lakh crore in money markets to address liquidity shortfall. The plan includes government bond buy-backs, a long-term repo auction, and a dollar-rupee swap auction.

The Reserve Bank of India (NSE:BOI) (RBI) has announced measures to increase liquidity in the banking system. These actions include open market bond purchases and a buy-sell swap forex auction.

The Reserve Bank of India on Monday said it will purchase government securities worth Rs 60,000 crore in three tranches and announced several other steps to inject liquidity into the banking system.As part of measures to manage liquidity conditions,